SBA Communications (NASDAQ:SBAC) PT Set at $180.00 by Guggenheim

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Guggenheim set a $180.00 price objective on SBA Communications (NASDAQ:SBAC) in a research report report published on Wednesday, October 17th. The brokerage currently has a buy rating on the technology company’s stock.

A number of other research firms have also weighed in on SBAC. BidaskClub lowered shares of SBA Communications from a hold rating to a sell rating in a report on Friday, July 27th. ValuEngine raised shares of SBA Communications from a sell rating to a hold rating in a report on Tuesday, September 4th. Deutsche Bank increased their price target on shares of SBA Communications from $170.00 to $183.00 and gave the stock a hold rating in a report on Wednesday, August 1st. Morgan Stanley decreased their price target on shares of SBA Communications from $180.00 to $176.00 and set an overweight rating on the stock in a report on Thursday, August 16th. Finally, Zacks Investment Research raised shares of SBA Communications from a sell rating to a hold rating in a report on Wednesday, August 1st. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. SBA Communications presently has an average rating of Buy and an average target price of $179.80.

SBA Communications stock traded down $0.01 during midday trading on Wednesday, reaching $171.51. 911,257 shares of the stock were exchanged, compared to its average volume of 911,837. SBA Communications has a 52 week low of $146.13 and a 52 week high of $177.67.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, November 5th. The technology company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.78 by ($1.64). The firm had revenue of $467.20 million for the quarter, compared to the consensus estimate of $459.17 million. SBA Communications had a negative return on equity of 0.65% and a negative net margin of 0.11%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the company posted $1.75 EPS. Research analysts expect that SBA Communications will post 7.14 EPS for the current year.

In other news, Director Brian C. Carr sold 800 shares of the company’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $155.00, for a total value of $124,000.00. Following the completion of the sale, the director now owns 3,070 shares of the company’s stock, valued at approximately $475,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey Stoops sold 80,000 shares of the company’s stock in a transaction on Friday, November 9th. The shares were sold at an average price of $171.10, for a total transaction of $13,688,000.00. Following the completion of the sale, the chief executive officer now directly owns 214,943 shares of the company’s stock, valued at approximately $36,776,747.30. The disclosure for this sale can be found here. Insiders sold a total of 180,590 shares of company stock worth $29,648,300 in the last three months. Insiders own 2.70% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Employees Retirement System of Texas boosted its position in SBA Communications by 31.3% during the 2nd quarter. Employees Retirement System of Texas now owns 21,000 shares of the technology company’s stock valued at $3,468,000 after buying an additional 5,000 shares during the period. Rampart Investment Management Company LLC boosted its position in SBA Communications by 167.9% during the 2nd quarter. Rampart Investment Management Company LLC now owns 13,970 shares of the technology company’s stock valued at $2,307,000 after buying an additional 8,756 shares during the period. Neuburgh Advisers LLC boosted its position in SBA Communications by 9.7% during the 2nd quarter. Neuburgh Advisers LLC now owns 6,446 shares of the technology company’s stock valued at $1,064,000 after buying an additional 572 shares during the period. Riverhead Capital Management LLC boosted its position in SBA Communications by 9.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 9,815 shares of the technology company’s stock valued at $1,621,000 after buying an additional 836 shares during the period. Finally, DF Dent & Co. Inc. raised its holdings in SBA Communications by 35.5% in the 2nd quarter. DF Dent & Co. Inc. now owns 203,874 shares of the technology company’s stock worth $33,664,000 after purchasing an additional 53,456 shares in the last quarter. 94.37% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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