SBA Communications (NASDAQ:SBAC) has been assigned a $190.00 price target by Guggenheim in a report issued on Tuesday. The firm currently has a “buy” rating on the technology company’s stock. Guggenheim’s target price suggests a potential upside of 16.42% from the company’s current price.
Several other research analysts also recently commented on SBAC. KeyCorp reaffirmed a “buy” rating and issued a $179.00 price objective (up from $170.00) on shares of SBA Communications in a report on Wednesday, November 1st. Morgan Stanley raised their price objective on shares of SBA Communications from $169.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, November 14th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $200.00 price objective on shares of SBA Communications in a report on Thursday, November 30th. Cowen reaffirmed a “buy” rating and issued a $170.00 price objective (up from $155.00) on shares of SBA Communications in a report on Tuesday, December 5th. Finally, BidaskClub downgraded shares of SBA Communications from a “hold” rating to a “sell” rating in a report on Friday, December 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $172.00.
Shares of SBA Communications (NASDAQ SBAC) opened at $163.20 on Tuesday. 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 one year low of $111.77 and a one year high of $177.67. The stock has a market cap of $20,303.03, a P/E ratio of 189.77 and a beta of 0.85.
SBA Communications declared that its Board of Directors has approved a stock buyback plan on Monday, February 26th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
A number of large investors have recently made changes to their positions in SBAC. Acadian Asset Management LLC bought a new position in SBA Communications in the 4th quarter valued at $108,000. Sun Life Financial INC bought a new position in SBA Communications in the 3rd quarter valued at $127,000. Tower Research Capital LLC TRC boosted its holdings in SBA Communications by 168.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 809 shares of the technology company’s stock valued at $132,000 after purchasing an additional 508 shares during the period. MAI Capital Management bought a new position in SBA Communications in the 4th quarter valued at $204,000. Finally, Alps Advisors Inc. bought a new position in SBA Communications in the 4th quarter valued at $206,000. 95.59% of the stock is owned by hedge funds and other institutional investors.
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SBA Communications Company Profile
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.
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