SBA Communications (NASDAQ:SBAC) Cut to “Hold” at StockNews.com

SBA Communications (NASDAQ:SBAC) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other research analysts have also commented on SBAC. BMO Capital Markets cut their price objective on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. Citigroup cut their price objective on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. TD Cowen cut their price objective on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. KeyCorp upped their price objective on shares of SBA Communications from $227.00 to $230.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and a consensus target price of $237.92.

SBA Communications Trading Up 4.1 %

SBA Communications stock traded up $8.91 on Friday, reaching $227.28. 984,543 shares of the stock were exchanged, compared to its average volume of 943,907. The stock has a market cap of $24.43 billion, a PE ratio of 44.56, a PEG ratio of 0.67 and a beta of 0.65. SBA Communications has a twelve month low of $183.64 and a twelve month high of $258.76. The firm has a fifty day moving average price of $207.78 and a two-hundred day moving average price of $205.79.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). The firm had revenue of $660.50 million for the quarter, compared to analyst estimates of $665.21 million. SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The firm’s revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.24 EPS. Equities analysts anticipate that SBA Communications will post 12.53 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director George R. Krouse, Jr. sold 325 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the completion of the sale, the director now owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Chairman Jeffrey Stoops sold 49,765 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the completion of the sale, the chairman now owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director George R. Krouse, Jr. sold 325 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the sale, the director now directly owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Institutional Trading of SBA Communications

Several hedge funds have recently modified their holdings of the stock. Ridgewood Investments LLC bought a new position in SBA Communications in the second quarter valued at approximately $32,000. Family Firm Inc. bought a new position in SBA Communications in the second quarter valued at approximately $36,000. Glassman Wealth Services boosted its stake in SBA Communications by 79.1% in the fourth quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock valued at $39,000 after acquiring an additional 68 shares during the last quarter. Quarry LP boosted its stake in SBA Communications by 400.0% in the fourth quarter. Quarry LP now owns 165 shares of the technology company’s stock valued at $42,000 after acquiring an additional 132 shares during the last quarter. Finally, Global X Japan Co. Ltd. bought a new position in SBA Communications in the second quarter valued at approximately $49,000. 97.35% of the stock is owned by institutional investors.

About SBA Communications

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.