Brokerages Set CommScope Holding Company, Inc. (NASDAQ:COMM) Target Price at $18.40

CommScope Holding Company, Inc. (NASDAQ:COMM) has been given an average recommendation of “Hold” by the nine ratings firms that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $18.40.

COMM has been the topic of several recent research reports. Northland Securities set a $25.00 price target on CommScope in a research note on Friday, October 31st. Bank of America increased their price objective on CommScope from $20.00 to $23.50 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Wall Street Zen upgraded CommScope from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Finally, Zacks Research cut shares of CommScope from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th.

Institutional Investors Weigh In On CommScope

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sierra Summit Advisors LLC bought a new position in shares of CommScope in the 4th quarter valued at about $869,000. Leonteq Securities AG acquired a new position in CommScope during the fourth quarter valued at approximately $73,000. PNC Financial Services Group Inc. boosted its position in CommScope by 9.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,400 shares of the communications equipment provider’s stock valued at $152,000 after purchasing an additional 706 shares during the last quarter. GSA Capital Partners LLP grew its stake in CommScope by 230.2% in the fourth quarter. GSA Capital Partners LLP now owns 120,340 shares of the communications equipment provider’s stock valued at $2,182,000 after purchasing an additional 83,894 shares in the last quarter. Finally, Handelsbanken Fonder AB acquired a new position in shares of CommScope during the 4th quarter worth approximately $1,077,000. 88.04% of the stock is owned by institutional investors.

CommScope Price Performance

The firm has a market cap of $4.30 billion, a P/E ratio of 5.92, a PEG ratio of 0.85 and a beta of 2.39. The firm’s 50 day moving average is $18.97 and its two-hundred day moving average is $16.68. CommScope has a 52-week low of $2.94 and a 52-week high of $20.55.

CommScope Company Profile

CommScope Holdings, Inc is a global provider of network infrastructure solutions that enable the seamless transmission of voice, video and data across wired and wireless networks. The company designs, manufactures and delivers a broad portfolio of cable, connectivity and networking products, including fiber-optic and coaxial cables, modular connectivity systems, antennas, small cells and distributed antenna systems (DAS). CommScope’s offerings support the growing demands of telecommunications service providers, cable operators, enterprise customers and data center operators that require scalable, high-performance solutions.

Serving customers in more than 150 countries, CommScope’s product lines span the full network lifecycle from planning and design through installation and maintenance.