CommScope (NASDAQ:COMM) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of CommScope (NASDAQ:COMM) from an underweight rating to a neutral rating in a research note released on Tuesday, MarketBeat reports. JPMorgan Chase & Co. currently has $5.00 price target on the communications equipment provider’s stock.

Several other research analysts also recently weighed in on COMM. Morgan Stanley downgraded shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 target price for the company. in a research note on Tuesday, December 17th. Raymond James downgraded CommScope from a “market perform” rating to an “underperform” rating in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $3.00.

CommScope Stock Up 0.2 %

Shares of CommScope stock opened at $5.40 on Tuesday. The firm has a market cap of $1.17 billion, a PE ratio of -1.22, a P/E/G ratio of 0.57 and a beta of 1.92. The business’s fifty day moving average is $5.16 and its two-hundred day moving average is $4.55. CommScope has a fifty-two week low of $0.86 and a fifty-two week high of $7.19.

CommScope (NASDAQ:COMM) last issued its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.38). CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the business posted $0.10 EPS. CommScope’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts anticipate that CommScope will post -0.85 EPS for the current year.

Institutional Investors Weigh In On CommScope

A number of institutional investors and hedge funds have recently bought and sold shares of COMM. Bank of New York Mellon Corp increased its position in shares of CommScope by 7.9% in the second quarter. Bank of New York Mellon Corp now owns 1,194,041 shares of the communications equipment provider’s stock worth $1,469,000 after acquiring an additional 87,530 shares in the last quarter. Rhumbline Advisers grew its holdings in CommScope by 23.3% during the second quarter. Rhumbline Advisers now owns 347,323 shares of the communications equipment provider’s stock valued at $427,000 after purchasing an additional 65,605 shares during the last quarter. Highland Peak Capital LLC bought a new stake in CommScope during the second quarter valued at about $689,000. XTX Topco Ltd increased its position in CommScope by 263.1% in 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. Finally, P Schoenfeld Asset Management LP grew its position in CommScope by 233.3% in the 2nd quarter. P Schoenfeld Asset Management LP now owns 1,000,000 shares of the communications equipment provider’s stock worth $1,230,000 after purchasing an additional 700,000 shares during the last quarter. 88.04% of the stock is owned by institutional investors and hedge funds.

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.