Commscope Holding Company Inc (NASDAQ:COMM) Given Average Rating of “Hold” by Brokerages

Commscope Holding Company Inc (NASDAQ:COMM) has been given an average rating of “Hold” by the fifteen analysts that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $22.62.

A number of research firms recently issued reports on COMM. BidaskClub lowered Commscope from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 23rd. Zacks Investment Research lowered Commscope from a “strong-buy” rating to a “sell” rating and set a $17.00 target price for the company. in a report on Tuesday, June 4th. Goldman Sachs Group upgraded Commscope from a “neutral” rating to a “buy” rating and decreased their target price for the company from $20.00 to $19.00 in a report on Thursday, June 20th. Credit Suisse Group decreased their target price on Commscope from $30.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. began coverage on Commscope in a report on Monday, April 22nd. They issued an “overweight” rating for the company.

In other Commscope news, COO Bruce William Mcclelland purchased 3,500 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were bought at an average cost of $18.00 per share, for a total transaction of $63,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frank M. Drendel sold 80,800 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $18.35, for a total value of $1,482,680.00. The disclosure for this sale can be found here. 3.25% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of COMM. Boston Partners increased its position in shares of Commscope by 0.3% during the first quarter. Boston Partners now owns 204,428 shares of the communications equipment provider’s stock worth $4,442,000 after purchasing an additional 665 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Commscope by 5.8% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 12,516 shares of the communications equipment provider’s stock worth $271,000 after purchasing an additional 687 shares in the last quarter. Bank of Montreal Can increased its position in shares of Commscope by 24.9% during the first quarter. Bank of Montreal Can now owns 8,256 shares of the communications equipment provider’s stock worth $179,000 after purchasing an additional 1,644 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Commscope by 7.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 27,292 shares of the communications equipment provider’s stock worth $426,000 after purchasing an additional 1,787 shares in the last quarter. Finally, Xact Kapitalforvaltning AB increased its position in shares of Commscope by 5.8% during the first quarter. Xact Kapitalforvaltning AB now owns 35,000 shares of the communications equipment provider’s stock worth $761,000 after purchasing an additional 1,913 shares in the last quarter. Institutional investors own 98.39% of the company’s stock.

Shares of COMM traded down $0.06 during midday trading on Tuesday, hitting $13.29. 3,316,350 shares of the stock were exchanged, compared to its average volume of 2,658,083. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 6.30, a P/E/G ratio of 0.31 and a beta of 1.43. The stock’s fifty day moving average is $15.20. Commscope has a 52-week low of $12.92 and a 52-week high of $31.98. The company has a current ratio of 2.01, a quick ratio of 1.42 and a debt-to-equity ratio of 4.28.

Commscope (NASDAQ:COMM) last released its earnings results on Thursday, May 9th. The communications equipment provider reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.07. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. Commscope had a return on equity of 23.46% and a net margin of 2.29%. Commscope’s revenue was down 1.9% compared to the same quarter last year. During the same period last year, the business posted $0.49 earnings per share. As a group, equities research analysts anticipate that Commscope will post 2.24 earnings per share for the current fiscal year.

Commscope Company Profile

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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Analyst Recommendations for Commscope (NASDAQ:COMM)

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