Rating Action: SBA Communications Corporation (NASDAQ:SBAC)’s Is Reaching An Inflection Point; JP Morgan Upgrades It

November 30, 2016 - By Dolores Ford

Rating Action:  SBA Communications Corporation (NASDAQ:SBAC)'s Is Reaching An Inflection Point; JP Morgan Upgrades It

SBA Communications Corporation (NASDAQ:SBAC) Upgrade

JP Morgan upgraded shares of SBA Communications Corporation (NASDAQ:SBAC) from a “Neutral” rating to “Overweight” rating in a analysts report made public on Wednesday morning.

SBA Communications Corporation (NASDAQ:SBAC) Ratings Coverage

Out of 8 analysts covering SBA Communications (NASDAQ:SBAC), 5 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 63% are positive. $143 is the highest target while $102 is the lowest. The $123.56 average target is 23.70% above today’s ($99.89) stock price. SBA Communications has been the topic of 18 analyst reports since August 26, 2015 according to StockzIntelligence Inc. The rating was downgraded by Macquarie Research to “Neutral” on Monday, October 5. JP Morgan downgraded SBA Communications Corporation (NASDAQ:SBAC) rating on Tuesday, May 3. JP Morgan has “Neutral” rating and $115 price target. SunTrust initiated SBA Communications Corporation (NASDAQ:SBAC) rating on Tuesday, September 13. SunTrust has “Buy” rating and $129 price target. Pacific Crest downgraded SBA Communications Corporation (NASDAQ:SBAC) on Friday, November 6 to “” rating. The rating was upgraded by Stifel Nicolaus to “Buy” on Tuesday, January 26. The company was initiated on Wednesday, August 26 by Stifel Nicolaus. On Monday, January 4 the stock rating was upgraded by Citigroup to “Buy”. The stock has “Neutral” rating given by Citigroup on Friday, October 2. Citigroup maintained the shares of SBAC in a report on Monday, July 11 with “Buy” rating. Deutsche Bank maintained SBA Communications Corporation (NASDAQ:SBAC) on Friday, May 27 with “Hold” rating.

About 677,805 shares traded hands. SBA Communications Corporation (NASDAQ:SBAC) has declined 4.78% since April 27, 2016 and is downtrending. It has underperformed by 10.01% the S&P500.

Analysts await SBA Communications Corporation (NASDAQ:SBAC) to report earnings on February, 23. They expect $0.08 EPS, down 66.67% or $0.16 from last year’s $0.24 per share. SBAC’s profit will be $9.95 million for 312.16 P/E if the $0.08 EPS becomes a reality. After $-0.12 actual EPS reported by SBA Communications Corporation for the previous quarter, Wall Street now forecasts -166.67% EPS growth.

Insitutional Activity: The institutional sentiment increased to 1.05 in 2016 Q2. Its up 0.09, from 0.96 in 2016Q1. The ratio is positive, as 37 funds sold all SBA Communications Corporation shares owned while 138 reduced positions. 48 funds bought stakes while 120 increased positions. They now own 115.47 million shares or 4.10% less from 120.41 million shares in 2016Q1.

Clearbridge Invs Lc reported 187,790 shares or 0.02% of all its holdings. Suntrust Banks Inc owns 2,929 shares or 0% of their US portfolio. Manufacturers Life The holds 4,510 shares or 0% of its portfolio. Winfield holds 10 shares or 0% of its portfolio. Fjarde Ap, a Alabama-based fund reported 36,814 shares. Pnc Fincl Ser Grp Inc, a Pennsylvania-based fund reported 13,301 shares. Amalgamated National Bank has invested 0.05% of its portfolio in SBA Communications Corporation (NASDAQ:SBAC). Brookfield Asset Mngmt accumulated 0.93% or 1.67 million shares. The Ontario – Canada-based Td Asset Management has invested 0.01% in SBA Communications Corporation (NASDAQ:SBAC). Bokf Na last reported 0.02% of its portfolio in the stock. Bancorp Of America Corp De accumulated 0.03% or 1.29M shares. Marshall Wace Llp reported 16,299 shares or 0.01% of all its holdings. Parametric Limited has invested 0.08% of its portfolio in SBA Communications Corporation (NASDAQ:SBAC). Gam Holding Ag last reported 5,472 shares in the company. The Maryland-based Calvert Investment Mngmt has invested 0.03% in SBA Communications Corporation (NASDAQ:SBAC).

Insider Transactions: Since June 16, 2016, the stock had 2 insider purchases, and 3 sales for $14.22 million net activity. Shares for $11.62M were sold by STOOPS JEFFREY on Tuesday, August 9. Krouse George R Jr also sold $181,290 worth of SBA Communications Corporation (NASDAQ:SBAC) on Tuesday, August 9. COCROFT DUNCAN had bought 1,000 shares worth $100,160 on Thursday, June 16. Another trade for 22,192 shares valued at $2.57M was sold by SILBERSTEIN JASON V.

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 has a market cap of $12.42 billion. The Company’s operating divisions include site leasing and site development. It has a 123.6 P/E ratio. The site leasing business includes divisions, domestic site leasing and international site leasing.

According to Zacks Investment Research, “SBA Communications Corp. is a leading independent owner and operator of wireless communications infrastructure in the United States. The company generates revenue from two primary businesses — site leasing and site development services. The primary focus of the company is the leasing of antenna space on its multi- tenant towers to a variety of wireless service providers under long-term lease contracts. (PRESS RELEASE)”

SBAC Company Profile

SBA Communications Corporation, incorporated on December 23, 1996, 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 divisions include site leasing and site development. The site leasing business includes divisions, domestic site leasing and international site leasing. The Company’s primary business line is its site leasing business. In its site leasing business, the Company leases antenna space to wireless service providers on towers that it owns or operates, and manages rooftop and tower sites for property owners under various contractual arrangements. The Firm owns approximately 25,460 towers. The Firm also manages or leases approximately 5,500 actual or potential towers. The Company’s other business line is its site development business, through which it assists wireless service providers in developing and maintaining their own wireless service networks. The Company’s principal activities are in the United States and its territories. In addition, it owns and operates towers in Canada, Central America and South America.

Another recent and important SBA Communications Corporation (NASDAQ:SBAC) news was published by Globenewswire.com which published an article titled: “SBA Communications Corporation Announces Pricing of $1.1 Billion of 4.875 …” on August 02, 2016.

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