SBA Communications (NASDAQ:SBAC) Cut to “Strong Sell” at BidaskClub

SBA Communications (NASDAQ:SBAC) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Tuesday, January 16th.

A number of other research analysts have also weighed in on SBAC. KeyCorp raised shares of SBA Communications from a “sector weight” rating to an “overweight” rating and set a $170.00 price target on the stock in a research note on Wednesday, September 27th. Zacks Investment Research lowered shares of SBA Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Cowen reaffirmed a “buy” rating and issued a $147.00 price target on shares of SBA Communications in a research note on Tuesday, October 17th. UBS Group assumed coverage on shares of SBA Communications in a report on Wednesday, October 18th. They issued a “buy” rating and a $176.00 price objective on the stock. Finally, Morgan Stanley lifted their price objective on shares of SBA Communications from $169.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, November 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. SBA Communications currently has an average rating of “Buy” and an average price target of $165.07.

Shares of SBA Communications (SBAC) traded down $0.12 on Tuesday, reaching $159.73. 1,198,652 shares of the company’s stock were exchanged, compared to its average volume of 1,105,221. The company has a debt-to-equity ratio of -3.63, a quick ratio of 0.32 and a current ratio of 0.32. SBA Communications has a 1 year low of $105.74 and a 1 year high of $177.67. The company has a market capitalization of $18,774.98, a price-to-earnings ratio of 190.15 and a beta of 0.85.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in SBA Communications by 2.8% during the second quarter. Vanguard Group Inc. now owns 9,869,843 shares of the technology company’s stock worth $1,331,442,000 after buying an additional 272,381 shares during the last quarter. American Century Companies Inc. increased its holdings in SBA Communications by 14.4% during the third quarter. American Century Companies Inc. now owns 2,552,824 shares of the technology company’s stock worth $367,734,000 after buying an additional 322,085 shares during the last quarter. Wells Fargo & Company MN increased its holdings in SBA Communications by 15.2% during the fourth quarter. Wells Fargo & Company MN now owns 1,315,958 shares of the technology company’s stock worth $214,975,000 after buying an additional 173,146 shares during the last quarter. Brookfield Asset Management Inc. increased its holdings in SBA Communications by 37.2% during the second quarter. Brookfield Asset Management Inc. now owns 1,192,587 shares of the technology company’s stock worth $160,880,000 after buying an additional 323,300 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in SBA Communications by 70.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,166,994 shares of the technology company’s stock worth $168,105,000 after buying an additional 480,852 shares during the last quarter. Institutional investors and hedge funds own 95.87% of the company’s stock.

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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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