SBA Communications (NASDAQ:SBAC) Stock Bumped Up to "Hold" by Jefferies Financial Group

Key Points

• Jefferies upgraded SBA Communications to “Hold”, joining a broader analyst consensus of “Hold” with an average price target of $227.20. Ratings include eight Buys and ten Holds.
• SBAC shares rose 1.7% to $183.72, below the analyst average target and its 200-day moving average of $191.34.
• The company exceeded quarterly expectations with earnings of $1.87 per share versus the $1.85 consensus and revenue of $715.27 million, up 2.3% year over year.

SBA Communications (NASDAQ:SBAC - Get Free Report) was upgraded by research analysts at Jefferies Financial Group to a "hold" rating in a report issued on Thursday, Zacks reports.

A number of other equities research analysts also recently issued reports on SBAC. Royal Bank Of Canada lowered their price target on SBA Communications from $245.00 to $210.00 and set an "outperform" rating for the company in a research report on Friday, July 10th. The Goldman Sachs Group assumed coverage on SBA Communications in a report on Friday, June 26th. They issued a "neutral" rating and a $205.00 price objective on the stock. UBS Group downgraded SBA Communications from a "market perform" rating to a "hold" rating in a report on Monday, August 24th. BMO Capital Markets reaffirmed a "market perform" rating on shares of SBA Communications in a research note on Monday, August 24th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $271.00 target price on shares of SBA Communications in a report on Monday, October 5th. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $227.20.

SBA Communications Trading Up 1.7%

Shares of NASDAQ:SBAC opened at $183.72 on Thursday. The firm has a market cap of $19.49 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 1.81 and a beta of 1.00. The stock's 50-day moving average price is $179.47 and its two-hundred day moving average price is $191.34. SBA Communications has a 12-month low of $156.60 and a 12-month high of $224.46.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The technology company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.02. SBA Communications had a net margin of 34.51% and a negative return on equity of 20.67%. The business had revenue of $715.27 million for the quarter, compared to analyst estimates of $706.01 million. During the same period in the prior year, the firm posted $3.17 EPS. The company's revenue was up 2.3% on a year-over-year basis. As a group, research analysts forecast that SBA Communications will post 11.40 earnings per share for the current fiscal year.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Director George R. Krouse, Jr. sold 300 shares of the business's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $182.67, for a total transaction of $54,801.00. Following the transaction, the director owned 8,512 shares in the company, valued at $1,554,887.04. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 9.50% of the company's stock.

Institutional Investors Weigh In On SBA Communications

A number of large investors have recently modified their holdings of SBAC. Raiffeisen Bank International AG boosted its holdings in SBA Communications by 184.8% in the 2nd quarter. Raiffeisen Bank International AG now owns 188 shares of the technology company's stock worth $34,000 after acquiring an additional 122 shares during the period. CX Institutional raised its stake in shares of SBA Communications by 44.2% during the second quarter. CX Institutional now owns 212 shares of the technology company's stock valued at $37,000 after purchasing an additional 65 shares during the period. Eastern Bank acquired a new position in shares of SBA Communications during the second quarter worth $44,000. IFP Advisors Inc lifted its position in shares of SBA Communications by 392.0% during the second quarter. IFP Advisors Inc now owns 369 shares of the technology company's stock worth $65,000 after purchasing an additional 294 shares in the last quarter. Finally, Contravisory Investment Management Inc. acquired a new position in shares of SBA Communications during the second quarter worth $68,000. Institutional investors and hedge funds own 97.35% of the company's stock.

About SBA Communications

SBA Communications Corporation is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its portfolio primarily includes communications towers, rooftops, small-cell networks and distributed antenna systems used by wireless service providers, government agencies and other communications customers.

The company generates revenue mainly by leasing antenna space and related infrastructure to tenants, who install equipment used to provide wireless voice and data services.

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