SBA Communications (SBAC) Stock Rating Reaffirmed by Cowen
SBA Communications (NASDAQ:SBAC)‘s stock had its “buy” rating reaffirmed by investment analysts at Cowen in a research report issued to clients and investors on Tuesday. They presently have a $170.00 price objective on the technology company’s stock, up from their previous price objective of $155.00. Cowen’s price target suggests a potential upside of 3.74% from the stock’s previous close.
Several other analysts also recently weighed in on the stock. Royal Bank Of Canada reiterated a “buy” rating and issued a $200.00 target price on shares of SBA Communications in a report on Thursday, November 30th. KeyCorp restated an “overweight” rating and issued a $192.00 price target (up previously from $179.00) on shares of SBA Communications in a research note on Monday, November 27th. Morgan Stanley boosted their price target on shares of SBA Communications from $169.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 14th. UBS assumed coverage on shares of SBA Communications in a research note on Wednesday, October 18th. They issued a “buy” rating and a $176.00 price target for the company. Finally, Zacks Investment Research upgraded shares of SBA Communications from a “sell” rating to a “hold” rating in a research note on Monday, October 16th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $159.40.
SBA Communications (NASDAQ:SBAC) traded up $1.67 during trading on Tuesday, reaching $163.87. 1,246,600 shares of the company traded hands, compared to its average volume of 1,201,708. SBA Communications has a 12-month low of $97.16 and a 12-month high of $173.97. The company has a debt-to-equity ratio of -3.63, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a market cap of $19,065.31, a P/E ratio of 202.75 and a beta of 0.77.
In other news, Director George R. Krouse, Jr. sold 1,999 shares of SBA Communications stock in a transaction 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 completion of the sale, the director now directly owns 11,999 shares of the company’s stock, valued at approximately $2,033,950.49. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its position in shares of SBA Communications by 18.8% during the 2nd quarter. D.A. Davidson & CO. now owns 758 shares of the technology company’s stock worth $102,000 after purchasing an additional 120 shares during the last quarter. Creative Planning lifted its position in shares of SBA Communications by 40.7% during the 2nd quarter. Creative Planning now owns 874 shares of the technology company’s stock worth $118,000 after purchasing an additional 253 shares during the last quarter. Sun Life Financial INC purchased a new stake in shares of SBA Communications during the 3rd quarter worth $127,000. Acadian Asset Management LLC purchased a new stake in shares of SBA Communications during the 2nd quarter worth $159,000. Finally, Advisor Group Inc. lifted its position in shares of SBA Communications by 9.7% during the 2nd quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock worth $172,000 after purchasing an additional 114 shares during the last quarter. 96.15% of the stock is owned by institutional investors and hedge funds.
About SBA Communications
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.
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