CommScope (NASDAQ:COMM) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of CommScope (NASDAQ:COMM) from a sell rating to a hold rating in a research note published on Thursday morning.

Several other brokerages have also recently commented on COMM. Northland Securities raised their target price on shares of CommScope from $1.25 to $2.00 and gave the stock a market perform rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft raised their target price on shares of CommScope from $1.25 to $2.00 and gave the stock a hold rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, CommScope presently has an average rating of Hold and a consensus target price of $1.75.

CommScope Stock Up 9.1 %

Shares of COMM stock opened at $3.96 on Thursday. The firm has a 50 day moving average price of $1.80 and a two-hundred day moving average price of $1.55. The company has a market capitalization of $840.62 million, a PE ratio of -0.45, a price-to-earnings-growth ratio of 1.91 and a beta of 2.08. CommScope has a 12-month low of $0.86 and a 12-month high of $4.03.

CommScope (NASDAQ:COMM) last issued its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.23 billion. CommScope had a negative return on equity of 1.75% and a negative net margin of 30.88%. The company’s revenue was down 12.7% on a year-over-year basis. During the same quarter last year, the business earned $0.14 earnings per share. As a group, research analysts expect that CommScope will post 0.11 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in COMM. Headlands Technologies LLC grew its stake in shares of CommScope by 357.9% during the first quarter. Headlands Technologies LLC now owns 23,953 shares of the communications equipment provider’s stock worth $31,000 after buying an additional 18,722 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in CommScope by 5,083.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider’s stock valued at $34,000 after buying an additional 25,212 shares during the period. Mackenzie Financial Corp lifted its holdings in CommScope by 55.3% in the fourth quarter. Mackenzie Financial Corp now owns 19,514 shares of the communications equipment provider’s stock valued at $55,000 after buying an additional 6,949 shares during the period. Stoneridge Investment Partners LLC lifted its holdings in CommScope by 30.4% in the fourth quarter. Stoneridge Investment Partners LLC now owns 23,813 shares of the communications equipment provider’s stock valued at $67,000 after buying an additional 5,553 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in CommScope by 22.0% in the fourth quarter. Victory Capital Management Inc. now owns 27,568 shares of the communications equipment provider’s stock valued at $78,000 after buying an additional 4,978 shares during the period. 88.04% of the stock is owned by institutional investors.

About CommScope

CommScope Holding Company, Inc provides infrastructure solutions for communications, data center, and entertainment networks worldwide. The company operates through Connectivity and Cable Solutions (CCS); Outdoor Wireless Networks (OWN); Networking, Intelligent Cellular and Security Solutions (NICS), and Access Network Solutions (ANS) segments.