SBA Communications (NASDAQ:SBAC) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

A number of other equities research analysts have also issued reports on the stock. Citigroup boosted their price target on shares of SBA Communications from $140.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, August 28th. Morgan Stanley boosted their price target on shares of SBA Communications from $169.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, November 14th. UBS initiated coverage on shares of SBA Communications in a report on Wednesday, October 18th. They set a “buy” rating and a $176.00 price target on the stock. KeyCorp restated a “buy” rating and set a $179.00 price target (up previously from $170.00) on shares of SBA Communications in a report on Wednesday, November 1st. Finally, Zacks Investment Research lowered shares of SBA Communications from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $159.40.

SBA Communications (NASDAQ:SBAC) traded down $2.12 during midday trading on Friday, hitting $163.68. 1,995,854 shares of the company were exchanged, compared to its average volume of 900,606. The company has a debt-to-equity ratio of -3.63, a current ratio of 0.32 and a quick ratio of 0.32. SBA Communications has a twelve month low of $100.67 and a twelve month high of $173.97. The company has a market cap of $19,239.27, a P/E ratio of 204.60 and a beta of 0.77.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, October 30th. The technology company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $1.50. SBA Communications had a net margin of 5.95% and a negative return on equity of 4.71%. The business had revenue of $433.90 million for the quarter, compared to the consensus estimate of $431.42 million. During the same period in the previous year, the firm earned ($0.12) EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. analysts forecast that SBA Communications will post 0.97 EPS for the current year.

In related news, Director George R. Krouse, Jr. sold 1,999 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $169.51, for a total transaction of $338,850.49. Following the transaction, the director now directly owns 11,999 shares of the company’s stock, valued at $2,033,950.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.

A number of hedge funds have recently bought and sold shares of SBAC. Iridian Asset Management LLC CT grew its position in SBA Communications by 88.1% in the second quarter. Iridian Asset Management LLC CT now owns 2,641,198 shares of the technology company’s stock worth $356,298,000 after acquiring an additional 1,237,008 shares in the last quarter. PointState Capital LP bought a new stake in SBA Communications in the second quarter worth approximately $149,091,000. Victory Capital Management Inc. grew its position in SBA Communications by 147,836.3% in the second quarter. Victory Capital Management Inc. now owns 687,904 shares of the technology company’s stock worth $92,799,000 after acquiring an additional 687,439 shares in the last quarter. American Century Companies Inc. grew its position in SBA Communications by 41.4% in the second quarter. American Century Companies Inc. now owns 2,230,739 shares of the technology company’s stock worth $300,927,000 after acquiring an additional 652,647 shares in the last quarter. Finally, Voya Investment Management LLC grew its position in SBA Communications by 1,343.6% in the second quarter. Voya Investment Management LLC now owns 657,010 shares of the technology company’s stock worth $88,631,000 after acquiring an additional 611,497 shares in the last quarter. 96.15% of the stock is owned by institutional investors.

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SBA Communications Company Profile

SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.

Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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