Zacks Investment Research downgraded SBA Communications Corporation (NASDAQ:SBAC) to Hold in a statement released earlier today.
- Updated: October 6, 2016
Zacks Investment Research has downgraded SBA Communications Corporation (NASDAQ:SBAC) to Hold in a report released on 10/07/2016.
On Thursday September 29, 2016, Zacks Investment Research released a statement for SBA Communications Corporation (NASDAQ:SBAC) bumped up the target price from $0.00 to $127.00 that suggested an upside of 0.12%.
Boasting a price of $109.56, SBA Communications Corporation (NASDAQ:SBAC) traded 0.47% higher on the day. With the last stock price close up 2.53% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the same period. SBAC has recorded a 50-day average of $112.43 and a two hundred day average of $106.86. Volume of trade was up over the average, with 802,743 shares of SBAC changing hands over the typical 785,789
Recent Performance Chart
SBA Communications Corporation has with a one year low of $82.80 and a one year high of $121.45 and has a market capitalization of $0.
A total of 15 brokerages have issued a ratings update on SBA Communications Corporation. Six brokerages rating the company a strong buy, six brokerages rating the company a buy, 5 firms rating the stock a hold, 0 firms rating the stock a underperform, and finally 0 firms rating the stock a sell with a consensus target price of $119.53.
General Information About SBA Communications Corporation (NASDAQ:SBAC)
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. 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 Company owns approximately 25,460 towers. It 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.
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