Rating Alert: Will JP Morgan Upgrade Harm SBA Comm (NASDAQ:SBAC) Stock Price Today?

November 30, 2016 - By Ellis Scott

Rating Alert:  Will JP Morgan Upgrade Harm SBA Comm (NASDAQ:SBAC) Stock Price Today?

SBA Comm (NASDAQ:SBAC) Upgrade

In an analyst report shared with investors and clients on Wednesday morning, JP Morgan has upped SBA Comm (NASDAQ:SBAC) stock to a “Overweight”. SBAC’s old rating was “Neutral”.

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 22.85% above today’s ($100.58) stock price. SBA Communications has been the topic of 18 analyst reports since August 26, 2015 according to StockzIntelligence Inc. The stock has “Neutral” rating given by Citigroup on Friday, October 2. The firm has “” rating by Pacific Crest given on Friday, November 6. The firm has “Buy” rating by SunTrust given on Tuesday, September 13. The company was maintained on Friday, May 27 by Deutsche Bank. On Monday, January 4 the stock rating was upgraded by Citigroup to “Buy”. The rating was upgraded by Stifel Nicolaus on Tuesday, January 26 to “Buy”. On Monday, July 11 the stock rating was maintained by Citigroup with “Buy”. The firm earned “Neutral” rating on Monday, October 5 by Macquarie Research. Stifel Nicolaus maintained it with “Buy” rating and $117 target price in Tuesday, May 3 report. Stifel Nicolaus initiated the stock with “Hold” rating in Wednesday, August 26 report.

About 278,251 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 $9.94M for 314.34 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 Q2 2016. 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.

Tudor Investment Corp Et Al holds 0.01% or 5,922 shares in its portfolio. Blackrock Fund Advsrs owns 1.95M shares or 0.05% of their US portfolio. Gam Ag holds 5,472 shares or 0.01% of its portfolio. Royal London Asset Mngmt Ltd reported 40,172 shares or 0.07% of all its holdings. The New York-based Moore Cap Management L P has invested 0.23% in SBA Communications Corporation (NASDAQ:SBAC). Public Employees Retirement Association Of Colorado holds 27,106 shares or 0.02% of its portfolio. Macquarie Limited accumulated 178,855 shares or 0.04% of the stock. Wells Fargo And Mn reported 596,847 shares or 0.02% of all its holdings. Thrivent Financial For Lutherans accumulated 0.07% or 145,563 shares. Airain Ltd owns 101,302 shares or 0.63% of their US portfolio. Glg Ltd Limited Liability Company accumulated 0.07% or 8,029 shares. Kalmar De owns 172,245 shares or 0.82% of their US portfolio. Next Fin Gp has 0% invested in the company for 8 shares. Pioneer Inv Management Inc has 0.02% invested in the company for 45,855 shares. The New York-based Element Mgmt Limited Liability Corp has invested 0.13% in SBA Communications Corporation (NASDAQ:SBAC).

Insider Transactions: Since June 16, 2016, the stock had 2 insider purchases, and 3 insider sales for $14.22 million net activity. $100,160 worth of shares were bought by COCROFT DUNCAN on Thursday, June 16. SILBERSTEIN JASON V sold $2.57M worth of SBA Communications Corporation (NASDAQ:SBAC) on Tuesday, August 9. 1,565 shares were sold by Krouse George R Jr, worth $181,290. Shares for $11.62M were sold by STOOPS JEFFREY.

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 $12.50 billion. The Company’s operating divisions include site leasing and site development. It has a 124.45 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.

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