CommScope (NASDAQ:COMM) Hits New 1-Year High at $6.47

CommScope Holding Company, Inc. (NASDAQ:COMM) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $6.47 and last traded at $6.43, with a volume of 320778 shares changing hands. The stock had previously closed at $6.29.

Analyst Upgrades and Downgrades

COMM has been the subject of several recent research reports. Northland Securities upped their price target on CommScope from $1.25 to $2.00 and gave the stock a “market perform” rating in a report on Monday, August 12th. StockNews.com raised shares of CommScope from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $1.75.

CommScope Stock Up 2.4 %

The business’s 50-day moving average price is $3.58 and its 200 day moving average price is $2.06. The company has a market capitalization of $1.37 billion, a P/E ratio of -0.71, a price-to-earnings-growth ratio of 0.23 and a beta of 2.08.

CommScope (NASDAQ:COMM) last released its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.23 billion. CommScope had a negative net margin of 31.24% and a negative return on equity of 3.08%. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 EPS. Analysts anticipate that CommScope Holding Company, Inc. will post 0.91 EPS for the current fiscal year.

Institutional Investors Weigh In On CommScope

Several institutional investors and hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC boosted its stake in 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 acquiring an additional 18,722 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of CommScope by 5,083.1% during 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 last quarter. Victory Capital Management Inc. lifted its position in CommScope by 22.0% in the 4th quarter. Victory Capital Management Inc. now owns 27,568 shares of the communications equipment provider’s stock valued at $78,000 after acquiring an additional 4,978 shares in the last quarter. RPO LLC bought a new stake in shares of CommScope in the 4th quarter worth $92,000. Finally, Fore Capital LLC raised its stake in shares of CommScope by 36.5% in the second quarter. Fore Capital LLC now owns 74,841 shares of the communications equipment provider’s stock worth $92,000 after purchasing an additional 20,000 shares during the last quarter. Hedge funds and other institutional investors own 88.04% of the company’s stock.

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.