Commscope (COMM) Rating Increased to Buy at ValuEngine
Commscope (NASDAQ:COMM) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Friday.
A number of other analysts have also recently weighed in on the company. Jefferies Group reaffirmed a “buy” rating and set a $40.00 price objective on shares of Commscope in a research report on Thursday, October 12th. Morgan Stanley raised Commscope from an “equal weight” rating to an “overweight” rating and set a $38.00 price objective for the company in a research report on Thursday, August 17th. Zacks Investment Research cut Commscope from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Northland Securities set a $28.00 price objective on Commscope and gave the stock a “hold” rating in a research report on Tuesday, October 17th. Finally, Citigroup increased their price objective on Commscope from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $40.30.
Shares of Commscope (NASDAQ:COMM) traded up $0.08 during midday trading on Friday, hitting $36.07. The company had a trading volume of 1,610,000 shares, compared to its average volume of 1,340,981. The firm has a market cap of $6,880.79, a PE ratio of 16.70, a PEG ratio of 2.81 and a beta of 1.20. The company has a current ratio of 2.78, a quick ratio of 2.10 and a debt-to-equity ratio of 2.93. Commscope has a 1 year low of $30.95 and a 1 year high of $42.75.
Hedge funds have recently modified their holdings of the company. LS Investment Advisors LLC purchased a new position in shares of Commscope during the 2nd quarter worth approximately $114,000. Krilogy Financial LLC raised its stake in shares of Commscope by 5.7% during the 2nd quarter. Krilogy Financial LLC now owns 3,170 shares of the communications equipment provider’s stock worth $121,000 after buying an additional 170 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in Commscope by 76.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,770 shares of the communications equipment provider’s stock valued at $181,000 after purchasing an additional 2,064 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Commscope in the 2nd quarter valued at approximately $216,000. Finally, Nordea Investment Management AB purchased a new position in Commscope in the 2nd quarter valued at approximately $235,000.
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CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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