CommScope (NASDAQ:COMM) Shares Up 6.1% – Still a Buy?

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) traded up 6.1% during mid-day trading on Wednesday . The stock traded as high as $5.20 and last traded at $5.08. 366,625 shares were traded during mid-day trading, a decline of 91% from the average session volume of 4,157,017 shares. The stock had previously closed at $4.79.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Morgan Stanley lifted their price target on shares of CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Northland Securities lifted their price target on shares of CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a research note on Monday, August 12th. Finally, StockNews.com upgraded shares of CommScope from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $2.50.

CommScope Trading Up 10.2 %

The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -1.17 and a beta of 1.95. The firm’s 50 day moving average price is $5.64 and its two-hundred day moving average price is $3.67.

CommScope (NASDAQ:COMM) last released its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.38). The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.42 billion. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 earnings per share. As a group, equities research analysts predict that CommScope Holding Company, Inc. will post -0.77 EPS for the current year.

Institutional Trading of CommScope

Hedge funds and other institutional investors have recently modified their holdings of the stock. Monarch Alternative Capital LP bought a new stake in shares of CommScope during the 3rd quarter worth about $16,623,000. Cubist Systematic Strategies LLC bought a new stake in shares of CommScope during the 2nd quarter worth about $144,000. XTX Topco Ltd boosted its holdings in shares of CommScope by 263.1% during the 2nd quarter. XTX Topco Ltd now owns 198,264 shares of the communications equipment provider’s stock worth $244,000 after buying an additional 143,654 shares during the period. Marathon Asset Management LP boosted its holdings in shares of CommScope by 75.0% during the 2nd quarter. Marathon Asset Management LP now owns 1,750,000 shares of the communications equipment provider’s stock worth $2,152,000 after buying an additional 750,000 shares during the period. Finally, Point72 DIFC Ltd bought a new stake in shares of CommScope during the 2nd quarter worth about $140,000. Institutional investors own 88.04% of the company’s stock.

CommScope Company Profile

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.