SBA Communications (NASDAQ:SBAC) Stock Rating Upgraded by StockNews.com

SBA Communications (NASDAQ:SBAC – Get Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Other research analysts have also issued research reports about the stock. Barclays decreased their target price on shares of SBA Communications from $341.00 to $336.00 and set an “overweight” rating on the stock in a research report on Thursday, January 12th. Truist Financial cut their target price on SBA Communications from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Friday, January 13th. Wolfe Research raised SBA Communications from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, January 24th. Morgan Stanley reduced their price objective on shares of SBA Communications from $366.00 to $309.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 18th. Finally, Cowen dropped their target price on shares of SBA Communications from $389.00 to $341.00 and set an “outperform” rating for the company in a research report on Tuesday, November 1st. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $340.20.

SBA Communications Stock Down 0.1 %

Shares of SBAC traded down $0.36 during midday trading on Wednesday, reaching $292.77. 619,677 shares of the stock were exchanged, compared to its average volume of 685,518. The stock’s 50 day simple moving average is $291.21 and its 200 day simple moving average is $298.09. SBA Communications has a twelve month low of $236.20 and a twelve month high of $379.99. The company has a market cap of $31.61 billion, a P/E ratio of 78.91 and a beta of 0.49.

Institutional Investors Weigh In On SBA Communications

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP raised its holdings in SBA Communications by 246.2% during the 4th quarter. Allworth Financial LP now owns 90 shares of the technology company’s stock worth $25,000 after purchasing an additional 64 shares during the last quarter. Crewe Advisors LLC bought a new position in shares of SBA Communications in the 2nd quarter worth about $26,000. EverSource Wealth Advisors LLC boosted its position in shares of SBA Communications by 71.7% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 91 shares of the technology company’s stock valued at $26,000 after purchasing an additional 38 shares in the last quarter. Whittier Trust Co. grew its stake in SBA Communications by 131.8% during the third quarter. Whittier Trust Co. now owns 102 shares of the technology company’s stock worth $29,000 after purchasing an additional 58 shares during the period. Finally, Private Trust Co. NA bought a new stake in SBA Communications in the second quarter worth approximately $30,000. Institutional investors and hedge funds own 93.54% of the company’s stock.

About SBA Communications

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SBA Communications Corp. is a real estate investment trust, which engages in the provision of wireless communications infrastructures. It operates through the following business segments: Domestic Site Leasing, International Site Leasing, and Site Development. The Domestic Site Leasing segment includes AT&T, Sprint, T-Mobile, and Verizon Wireless.