Commscope (NASDAQ:COMM) Raised to “Sell” at ValuEngine

ValuEngine upgraded shares of Commscope (NASDAQ:COMM) from a strong sell rating to a sell rating in a research note issued to investors on Wednesday, ValuEngine reports.

COMM has been the topic of several other reports. TheStreet lowered Commscope from a c rating to a d rating in a report on Friday, August 16th. BidaskClub raised Commscope from a strong sell rating to a sell rating in a report on Tuesday, September 10th. Northland Securities reaffirmed a buy rating and set a $22.50 target price on shares of Commscope in a report on Friday, August 9th. Credit Suisse Group dropped their target price on Commscope from $27.00 to $23.00 and set an outperform rating on the stock in a report on Friday, August 9th. Finally, Raymond James downgraded Commscope from a strong-buy rating to an outperform rating and lowered their price target for the stock from $25.00 to $21.00 in a research report on Friday, June 14th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Commscope currently has a consensus rating of Hold and an average price target of $19.13.

Commscope stock traded up $0.05 during midday trading on Wednesday, hitting $10.99. 3,906,255 shares of the company were exchanged, compared to its average volume of 3,183,964. The firm has a market capitalization of $2.13 billion, a PE ratio of 5.21, a price-to-earnings-growth ratio of 0.38 and a beta of 1.51. Commscope has a fifty-two week low of $9.52 and a fifty-two week high of $29.06. The business has a fifty day simple moving average of $11.27 and a two-hundred day simple moving average of $16.79. The company has a debt-to-equity ratio of 7.23, a quick ratio of 1.27 and a current ratio of 1.88.

Commscope (NASDAQ:COMM) last posted its earnings results on Thursday, August 8th. The communications equipment provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.50 by $0.16. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.57 billion. Commscope had a positive return on equity of 25.08% and a negative net margin of 5.03%. Commscope’s revenue for the quarter was up 107.0% compared to the same quarter last year. During the same period last year, the company earned $0.68 earnings per share. As a group, equities analysts expect that Commscope will post 1.81 earnings per share for the current year.

In other Commscope news, Director L William Krause purchased 21,250 shares of the stock in a transaction on Monday, September 9th. The shares were bought at an average price of $11.87 per share, for a total transaction of $252,237.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.25% of the company’s stock.

A number of hedge funds have recently modified their holdings of COMM. Maverick Capital Ltd. boosted its position in Commscope by 84.4% during the second quarter. Maverick Capital Ltd. now owns 18,511,826 shares of the communications equipment provider’s stock worth $291,191,000 after purchasing an additional 8,470,190 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Commscope in the second quarter valued at approximately $23,921,000. First Trust Advisors LP lifted its position in shares of Commscope by 367.4% in the first quarter. First Trust Advisors LP now owns 1,377,063 shares of the communications equipment provider’s stock valued at $29,924,000 after acquiring an additional 1,082,465 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Commscope by 26.9% in the second quarter. Russell Investments Group Ltd. now owns 4,922,583 shares of the communications equipment provider’s stock valued at $77,406,000 after acquiring an additional 1,043,254 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new position in shares of Commscope in the second quarter valued at approximately $9,438,000. Institutional investors own 98.32% of the company’s stock.

Commscope Company Profile

CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.

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Analyst Recommendations for Commscope (NASDAQ:COMM)

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