BidaskClub cut shares of SBA Communications (NASDAQ:SBAC) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday, BidAskClub reports.

Several other brokerages have also recently weighed in on SBAC. SunTrust Banks reiterated a buy rating and issued a $217.00 price objective on shares of SBA Communications in a research note on Thursday, April 11th. They noted that the move was a valuation call. Bank of America raised their target price on shares of SBA Communications from $189.00 to $211.00 and gave the company a buy rating in a report on Tuesday, March 19th. Morgan Stanley raised their target price on shares of SBA Communications from $190.00 to $204.00 and gave the company an overweight rating in a report on Monday, March 11th. KeyCorp raised their target price on shares of SBA Communications from $176.00 to $195.00 and gave the company an overweight rating in a report on Tuesday, February 12th. Finally, Zacks Investment Research lowered shares of SBA Communications from a hold rating to a sell rating in a report on Wednesday, February 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. SBA Communications currently has a consensus rating of Hold and an average price target of $193.33.

NASDAQ SBAC opened at $198.18 on Tuesday. The stock has a market cap of $22.31 billion, a PE ratio of 26.08, a P/E/G ratio of 2.60 and a beta of 0.83. SBA Communications has a 52-week low of $146.13 and a 52-week high of $204.34.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Thursday, February 21st. The technology company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($1.33). SBA Communications had a negative return on equity of 1.71% and a net margin of 2.54%. The business had revenue of $483.85 million during the quarter, compared to analyst estimates of $472.87 million. During the same quarter last year, the firm earned $1.78 EPS. SBA Communications’s revenue for the quarter was up 9.2% compared to the same quarter last year. Research analysts forecast that SBA Communications will post 7.82 earnings per share for the current year.

In related news, EVP Jason V. Silberstein sold 51,369 shares of SBA Communications stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $190.71, for a total transaction of $9,796,581.99. Following the sale, the executive vice president now directly owns 60,154 shares of the company’s stock, valued at approximately $11,471,969.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kurt L. Bagwell sold 22,400 shares of SBA Communications stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $181.53, for a total transaction of $4,066,272.00. Following the sale, the executive vice president now directly owns 82,878 shares in the company, valued at $15,044,843.34. The disclosure for this sale can be found here. Over the last three months, insiders sold 246,558 shares of company stock worth $45,484,249. Insiders own 2.70% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Spectrum Management Group Inc. bought a new stake in shares of SBA Communications during the 1st quarter valued at approximately $27,000. Legacy Financial Advisors Inc. bought a new stake in shares of SBA Communications during the 4th quarter valued at approximately $25,000. Pinnacle Bank bought a new stake in shares of SBA Communications during the 4th quarter valued at approximately $25,000. Resources Investment Advisors Inc. bought a new stake in shares of SBA Communications during the 4th quarter valued at approximately $28,000. Finally, CWM LLC grew its holdings in shares of SBA Communications by 49.2% during the 4th quarter. CWM LLC now owns 185 shares of the technology company’s stock valued at $30,000 after purchasing an additional 61 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors.

About SBA Communications

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By “Building Better Wireless,” SBA generates revenue from two primary businesses – site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.

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Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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