Guggenheim set a $172.00 price target on SBA Communications (NASDAQ:SBAC) in a research report sent to investors on Wednesday. The brokerage currently has a buy rating on the technology company’s stock.
SBAC has been the topic of a number of other research reports. KeyCorp upgraded SBA Communications from a sector weight rating to an overweight rating and set a $170.00 price target on the stock in a report on Wednesday, September 27th. Royal Bank of Canada restated a buy rating and set a $200.00 price target on shares of SBA Communications in a report on Thursday, November 30th. UBS Group initiated coverage on SBA Communications in a report on Wednesday, October 18th. They set a buy rating and a $176.00 price target on the stock. Zacks Investment Research upgraded SBA Communications from a sell rating to a hold rating in a report on Monday, October 16th. Finally, BidaskClub downgraded SBA Communications from a sell rating to a strong sell rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. SBA Communications currently has a consensus rating of Buy and an average price target of $162.93.
Shares of SBA Communications (NASDAQ:SBAC) traded up $0.18 during trading hours on Wednesday, reaching $161.65. The company had a trading volume of 1,399,331 shares, compared to its average volume of 951,233. SBA Communications has a 52 week low of $102.29 and a 52 week high of $173.97. The stock has a market cap of $18,789.09, a P/E ratio of 192.44 and a beta of 0.77. The company has a debt-to-equity ratio of -3.63, a quick ratio of 0.32 and a current ratio of 0.32.
In other SBA Communications news, Director George R. Krouse, Jr. sold 1,999 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $169.51, for a total transaction of $338,850.49. Following the transaction, the director now owns 11,999 shares in the company, valued at approximately $2,033,950.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the business. Frontier Capital Management Co. LLC grew its holdings in shares of SBA Communications by 15.4% during the 4th quarter. Frontier Capital Management Co. LLC now owns 743,216 shares of the technology company’s stock worth $121,412,000 after acquiring an additional 99,331 shares during the period. Acadian Asset Management LLC purchased a new position in shares of SBA Communications during the 4th quarter worth approximately $108,000. Westpac Banking Corp purchased a new position in shares of SBA Communications during the 4th quarter worth approximately $1,185,000. Schwab Charles Investment Management Inc. grew its holdings in shares of SBA Communications by 1.1% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 450,759 shares of the technology company’s stock worth $73,636,000 after acquiring an additional 4,702 shares during the period. Finally, Gateway Investment Advisers LLC grew its holdings in shares of SBA Communications by 10.4% during the 4th quarter. Gateway Investment Advisers LLC now owns 77,284 shares of the technology company’s stock worth $12,625,000 after acquiring an additional 7,289 shares during the period. Hedge funds and other institutional investors own 96.02% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This piece of content was posted by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this piece of content on another website, it was illegally copied and republished in violation of international copyright legislation. The correct version of this piece of content can be accessed at https://sportsperspectives.com/2018/01/18/guggenheim-analysts-give-sba-communications-sbac-a-172-00-price-target.html.
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.
Receive News & Ratings for SBA Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SBA Communications and related companies with MarketBeat.com's FREE daily email newsletter.