Shares of CommScope Holding Company, Inc. (NASDAQ: COMM – Get a rating) earned a consensus recommendation of “Hold” from the thirteen research firms that currently cover the business, reports Marketbeat Ratings. Three investment analysts gave the stock a sell rating, seven gave the company a hold rating and two gave the company a buy rating. The 12-month average target price among analysts who updated their coverage of the stock in the past year is $9.67.
Several brokerages have recently released reports on COMM. Evercore ISI lowered its price target on CommScope shares from $8.00 to $7.00 and set an “in-line” rating for the company in a Tuesday, June 28 research note. JPMorgan Chase & Co. cut its price target on CommScope shares from $9.00 to $7.00 and set a “neutral” rating on the stock in a Thursday, July 14 research note. Morgan Stanley downgraded CommScope shares from an “overweight” rating to an “equal weight” rating and raised its price target for the stock from $9.00 to $11.00 in a Friday research note 5 August. Citigroup raised its price target on CommScope shares from $6.00 to $7.00 and gave the company a “sell” rating in a Friday, Aug. 5 research note. Finally, Deutsche Bank Aktiengesellschaft raised its price target on CommScope shares from $9.00 to $12.00 and gave the stock a “buy” rating in a Friday, Aug. 5 research note.
CommScope trades up 5.7%
NASDAQ:COMM opened at $12.69 on Friday. The stock has a 50-day moving average of $8.42 and a two-hundred-day moving average of $7.90. The company has a market capitalization of $2.64 billion, a P/E ratio of -5.54, a price-to-earnings growth ratio of 0.29 and a beta of 1.87. CommScope has a 12 month minimum of $5.56 and a 12 month maximum of $15.97.
CommScope (NASDAQ:COMM – Get a rating) last reported results on Thursday, August 4. The communications equipment provider reported EPS of $0.36 for the quarter, beating the consensus estimate of $0.27 by $0.09. The company posted revenue of $2.30 billion for the quarter, versus analyst estimates of $2.26 billion. CommScope had a negative return on equity of 105.05% and a negative net margin of 4.65%. CommScope’s revenue for the quarter increased 5.3% compared to the same quarter last year. In the same quarter a year earlier, the company posted earnings per share of $0.38. On average, research analysts expect CommScope to post 1.51 earnings per share for the current year.
Insider buying and selling
In other CommScope news, Director Claudius E. IV Watts bought 10,000 shares of CommScope in a trade that took place on Tuesday, August 9. The shares were acquired at an average price of $9.45 per share, for a total transaction of $94,500.00. Following the completion of the acquisition, the director now owns 554,030 shares of the company, valued at approximately $5,235,583.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. In other news, Director Claudius E. Iv Watts acquired 10,000 shares of CommScope in a transaction on Tuesday August 9th. The shares were purchased at an average cost of $9.45 per share, for a total transaction of $94,500.00. Following the completion of the purchase, the administrator now directly owns 554,030 shares of the company, valued at approximately $5,235,583.50. The transaction was disclosed in a document filed with the SEC, accessible via this link. Also, director Claudius E. IV Watts bought 5,000 shares of the company in a transaction that took place on Thursday, August 11. The shares were acquired at an average price of $10.07 per share, for a total transaction of $50,350.00. Following completion of the transaction, the administrator now owns 559,030 shares of the company, valued at $5,629,432.10. Disclosure of this purchase can be found here. Over the past 90 days, insiders have acquired 63,076 shares of the company worth $645,321. 2.40% of the shares are held by insiders.
CommScope Institutional Trading
Several hedge funds have recently changed their stock holdings. Ensign Peak Advisors Inc increased its position in CommScope by 63.5% in Q4. Ensign Peak Advisors Inc now owns 30,150 shares of the communications equipment provider valued at $333,000 after purchasing an additional 11,715 shares during the period. Charles Schwab Investment Management Inc. increased its stake in CommScope by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,172,135 shares of the communications equipment provider valued at $23,981,000 after acquiring an additional 69,527 shares during the period. Renaissance Technologies LLC increased its position in CommScope shares by 35.5% during the fourth quarter. Renaissance Technologies LLC now owns 1,602,954 shares of the communications equipment provider valued at $17,697,000 after purchasing an additional 420,354 shares during the period. Cinctive Capital Management LP bought a new stock position in CommScope in the fourth quarter for a value of approximately $10,826,000. Finally, Wolverine Asset Management LLC increased its position in CommScope shares by 43.5% in the fourth quarter. Wolverine Asset Management LLC now owns 155,174 shares of the communications equipment provider worth $1,713,000 after buying an additional 47,013 shares in the last quarter. Institutional investors hold 90.79% of the company’s shares.
CommScope Company Profile
CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Outdoor Wireless Networks (OWN), Site and Campus Networks (VCN) and Home Networks (Home). The Broadband segment provides converged cable access platforms, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products and hardened closures to the broadband market of telecommunications operators and cable companies.
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