Commscope (NASDAQ:COMM) was upgraded by stock analysts at Rosenblatt Securities from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, BenzingaRatingsTable reports. The brokerage presently has a $22.00 price target on the communications equipment provider’s stock, down from their prior price target of $24.00. Rosenblatt Securities’ price objective indicates a potential upside of 31.82% from the stock’s current price.
COMM has been the topic of a number of other reports. ValuEngine cut Commscope from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 13th. Zacks Investment Research raised Commscope from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Friday, March 29th. Morgan Stanley set a $22.00 price target on Commscope and gave the stock a “hold” rating in a research report on Friday, February 22nd. BidaskClub cut Commscope from a “sell” rating to a “strong sell” rating in a research report on Saturday, March 16th. Finally, Deutsche Bank started coverage on Commscope in a research report on Friday, April 12th. They issued a “buy” rating and a $40.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $28.27.
Commscope stock opened at $16.69 on Wednesday. The company has a current ratio of 2.01, a quick ratio of 1.42 and a debt-to-equity ratio of 4.28. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 7.91, a PEG ratio of 0.37 and a beta of 1.49. Commscope has a fifty-two week low of $15.09 and a fifty-two week high of $32.48.
Commscope (NASDAQ:COMM) last issued its quarterly earnings results on Thursday, May 9th. The communications equipment provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. Commscope had a return on equity of 23.46% and a net margin of 2.29%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the firm posted $0.49 EPS. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. As a group, analysts forecast that Commscope will post 2.26 earnings per share for the current year.
In other news, Director Frank M. Drendel sold 80,800 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $18.35, for a total value of $1,482,680.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Bruce William Mcclelland acquired 4,000 shares of Commscope stock in a transaction dated Tuesday, May 14th. The stock was bought at an average price of $18.28 per share, with a total value of $73,120.00. The disclosure for this purchase can be found here. 3.25% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of COMM. Advisors Asset Management Inc. boosted its holdings in Commscope by 200.6% in the 1st quarter. Advisors Asset Management Inc. now owns 6,382 shares of the communications equipment provider’s stock worth $139,000 after buying an additional 4,259 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Commscope by 11.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 7,595 shares of the communications equipment provider’s stock valued at $124,000 after acquiring an additional 750 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Commscope by 24.9% in the 1st quarter. Bank of Montreal Can now owns 8,256 shares of the communications equipment provider’s stock valued at $179,000 after acquiring an additional 1,644 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Commscope by 31.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,511 shares of the communications equipment provider’s stock valued at $185,000 after acquiring an additional 2,030 shares during the last quarter. Finally, Commerce Bank bought a new position in shares of Commscope in the 1st quarter valued at about $201,000. Hedge funds and other institutional investors own 97.69% of the company’s stock.
CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.
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