ValuEngine Upgrades Commscope (NASDAQ:COMM) to Sell

Commscope (NASDAQ:COMM) was upgraded by ValuEngine from a “strong sell” rating to a “sell” rating in a note issued to investors on Wednesday, ValuEngine reports.

Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut Commscope from a “strong-buy” rating to a “sell” rating and set a $17.00 price target for the company. in a research note on Tuesday, June 4th. Goldman Sachs Group upgraded Commscope from a “neutral” rating to a “buy” rating and cut their price target for the company from $20.00 to $19.00 in a research note on Thursday, June 20th. Nomura cut their price target on Commscope from $24.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Credit Suisse Group cut their price target on Commscope from $27.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Finally, Deutsche Bank set a $28.00 price target on Commscope and gave the company a “buy” rating in a research note on Friday, August 9th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $19.13.

Shares of COMM stock traded up $0.05 during trading on Wednesday, hitting $10.99. The company had a trading volume of 3,906,255 shares, compared to its average volume of 3,183,964. The company has a debt-to-equity ratio of 7.23, a quick ratio of 1.27 and a current ratio of 1.88. The firm has a market capitalization of $2.13 billion, a P/E ratio of 5.21, a price-to-earnings-growth ratio of 0.38 and a beta of 1.51. The stock’s 50-day moving average price is $11.27 and its 200 day moving average price is $16.79. Commscope has a one year low of $9.52 and a one year high of $29.06.

Commscope (NASDAQ:COMM) last issued its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.16. The business had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Commscope had a positive return on equity of 25.08% and a negative net margin of 5.03%. The firm’s revenue for the quarter was up 107.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 earnings per share. On average, research analysts anticipate that Commscope will post 1.81 earnings per share for the current fiscal year.

In other Commscope news, Director L William Krause bought 21,250 shares of the business’s stock in a transaction on Monday, September 9th. The stock was purchased at an average cost of $11.87 per share, for a total transaction of $252,237.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.25% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. lifted its stake in Commscope by 16.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 8,052 shares of the communications equipment provider’s stock worth $127,000 after purchasing an additional 1,115 shares during the last quarter. Commerce Bank lifted its stake in Commscope by 15.6% during the second quarter. Commerce Bank now owns 10,674 shares of the communications equipment provider’s stock worth $168,000 after purchasing an additional 1,440 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Commscope by 7.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 27,292 shares of the communications equipment provider’s stock worth $426,000 after purchasing an additional 1,787 shares during the last quarter. Xact Kapitalforvaltning AB lifted its stake in Commscope by 5.8% during the first quarter. Xact Kapitalforvaltning AB now owns 35,000 shares of the communications equipment provider’s stock worth $761,000 after purchasing an additional 1,913 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its stake in Commscope by 0.8% during the second quarter. Worldquant Millennium Advisors LLC now owns 283,834 shares of the communications equipment provider’s stock worth $4,465,000 after purchasing an additional 2,352 shares during the last quarter. Hedge funds and other institutional investors own 98.32% of the company’s stock.

About Commscope

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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