Analyst Rating Update on SBA Communications Corporation (SBAC)

SBA Communications Corporation (NASDAQ:SBAC) has an average broker rating of 1.85, which is interpreted as a Buy, as rated by 13 equity analysts. Nonetheless, 7 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. 1 other analysts advise a Buy. Nevertheless, the majority of 5 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold.

SBA Communications Corporation (NASDAQ:SBAC) : The highest level SBA Communications Corporation (NASDAQ:SBAC) is projected to reach is $133 for the short term and the lowest estimate is at $102. The consolidated price target from 11 rating analysts who initiate coverage on the stock is $120.46 and the possibility the share price can swing is $9.47.

For the current week, the company shares have a recommendation consensus of Buy. Also, Major Brokerage house, Deutsche Bank maintains its ratings on SBA Communications Corporation (NASDAQ:SBAC). In the latest research report, Deutsche Bank lowers the target price from $106 per share to $102 per share. According to the latest information available, the shares are now rated Hold by the analysts at the agency. The rating by the firm was issued on May 27, 2016.

SBA Communications Corporation (NASDAQ:SBAC): stock turned positive on Tuesday. Though the stock opened at $101.98, the bulls momentum made the stock top out at $103.615 level for the day. The stock recorded a low of $101.13 and closed the trading day at $103.54, in the green by 2.54%. The total traded volume for the day was 1,039,980. The stock had closed at $100.98 in the previous days trading.

In an insider trading activity, Cocroft Duncan, director of Sba Communications Corp had purchased 1,000 shares on June 16, 2016 in a transaction. The price per share was $100.16 and the total amount of the disclosed transaction was $100,160.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.

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 operated through two segments, namely site leasing and site development. The Companys 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 manage rooftop and tower sites for property owners under various contractual arrangements. It also managed or leased approximately 5,000 actual or potential towers. Its 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 Companys principal operations 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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