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

Other equities research analysts have also issued research reports about the stock. KeyCorp reaffirmed a “buy” rating and set a $179.00 price target (up previously from $170.00) on shares of SBA Communications in a research report on Wednesday, November 1st. Royal Bank of Canada reaffirmed a “buy” rating and set a $200.00 price target on shares of SBA Communications in a research report on Thursday, November 30th. UBS Group initiated coverage on shares of SBA Communications in a research report on Wednesday, October 18th. They set a “buy” rating and a $176.00 price target for the company. Zacks Investment Research raised shares of SBA Communications from a “sell” rating to a “hold” rating in a research report on Monday, October 16th. Finally, Cowen reaffirmed a “buy” rating and set a $147.00 price target on shares of SBA Communications in a research report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $160.43.

SBA Communications (NASDAQ SBAC) traded up $3.91 on Tuesday, reaching $159.85. 1,412,813 shares of the company’s stock traded hands, compared to its average volume of 938,424. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of -3.63. The company has a market cap of $18,330.00, a PE ratio of 190.30 and a beta of 0.77. SBA Communications has a 1-year low of $102.29 and a 1-year high of $173.97.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, October 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $1.50. The business had revenue of $433.90 million for the quarter, compared to analysts’ expectations of $431.42 million. SBA Communications had a net margin of 5.95% and a negative return on equity of 4.71%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.12) EPS. research analysts forecast that SBA Communications will post 0.97 earnings per share for the current fiscal year.

In related news, Director George R. Krouse, Jr. sold 1,999 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $169.51, for a total value 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.40% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in SBAC. Acrospire Investment Management LLC grew its holdings in SBA Communications by 12.5% during the 3rd quarter. Acrospire Investment Management LLC now owns 900 shares of the technology company’s stock valued at $101,000 after buying an additional 100 shares in the last quarter. D.A. Davidson & CO. grew its holdings in SBA Communications by 18.8% during the 2nd quarter. D.A. Davidson & CO. now owns 758 shares of the technology company’s stock valued at $102,000 after buying an additional 120 shares in the last quarter. MSI Financial Services Inc grew its holdings in SBA Communications by 0.7% during the 3rd quarter. MSI Financial Services Inc now owns 920 shares of the technology company’s stock valued at $103,000 after buying an additional 6 shares in the last quarter. Van ECK Associates Corp grew its holdings in SBA Communications by 24.7% during the 4th quarter. Van ECK Associates Corp now owns 1,040 shares of the technology company’s stock valued at $107,000 after buying an additional 206 shares in the last quarter. Finally, Creative Planning grew its holdings in SBA Communications by 40.7% during the 2nd quarter. Creative Planning now owns 874 shares of the technology company’s stock valued at $118,000 after buying an additional 253 shares in the last quarter. 96.02% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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