Commscope (NASDAQ:COMM) Upgraded at BidaskClub

Commscope (NASDAQ:COMM) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Saturday, BidAskClub reports.

COMM has been the subject of a number of other research reports. Northland Securities reiterated a “buy” rating and issued a $22.50 price target on shares of Commscope in a report on Friday, August 9th. ValuEngine upgraded Commscope from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Bank of America lowered their price target on Commscope from $26.00 to $16.00 and set a “neutral” rating for the company in a report on Friday, August 9th. TheStreet lowered Commscope from a “c” rating to a “d” rating in a report on Friday, August 16th. Finally, Deutsche Bank set a $28.00 price target on Commscope and gave the company a “buy” rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $19.13.

Shares of NASDAQ:COMM traded down $0.06 during trading hours on Friday, hitting $11.57. 1,585,104 shares of the company’s stock traded hands, compared to its average volume of 3,558,904. Commscope has a 1 year low of $9.52 and a 1 year high of $27.00. The business has a fifty day moving average price of $11.45 and a 200-day moving average price of $16.07. The firm has a market capitalization of $2.25 billion, a P/E ratio of 5.48, a price-to-earnings-growth ratio of 0.39 and a beta of 1.51. The company has a debt-to-equity ratio of 7.23, a current ratio of 1.88 and a quick ratio of 1.27.

Commscope (NASDAQ:COMM) last announced its earnings results on Thursday, August 8th. The communications equipment provider reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.16. The business had revenue of $2.57 billion during 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%. The company’s revenue for the quarter was up 107.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 earnings per share. As a group, equities analysts predict that Commscope will post 1.81 earnings per share for the current year.

In other Commscope news, Director L William Krause acquired 21,250 shares of Commscope stock in a transaction that occurred on Monday, September 9th. The stock was bought at an average price of $11.87 per share, with a total value of $252,237.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.25% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. raised its stake in Commscope by 16.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 8,052 shares of the communications equipment provider’s stock worth $127,000 after buying an additional 1,115 shares in the last quarter. Commerce Bank raised its stake in Commscope by 15.6% in the second quarter. Commerce Bank now owns 10,674 shares of the communications equipment provider’s stock worth $168,000 after buying an additional 1,440 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in Commscope by 7.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 27,292 shares of the communications equipment provider’s stock worth $426,000 after buying an additional 1,787 shares in the last quarter. Worldquant Millennium Advisors LLC raised its stake in Commscope by 0.8% in the second quarter. Worldquant Millennium Advisors LLC now owns 283,834 shares of the communications equipment provider’s stock worth $4,465,000 after buying an additional 2,352 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new position in Commscope in the second quarter worth approximately $43,000. 98.35% of the stock is owned by institutional investors.

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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