CommScope (NASDAQ:COMM) Hits New 12-Month High Following Analyst Upgrade

CommScope Holding Company, Inc. (NASDAQ:COMM) reached a new 52-week high on Wednesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $6.00 to $7.50. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. CommScope traded as high as $7.44 and last traded at $7.33, with a volume of 10820818 shares trading hands. The stock had previously closed at $6.46.

Separately, Wall Street Zen downgraded CommScope from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $4.88.

Hedge Funds Weigh In On CommScope

Several hedge funds have recently bought and sold shares of COMM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of CommScope by 5.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,354 shares of the communications equipment provider’s stock worth $632,000 after purchasing an additional 5,909 shares during the last quarter. Swiss National Bank acquired a new stake in shares of CommScope during the fourth quarter worth $2,212,000. Arizona State Retirement System acquired a new stake in shares of CommScope during the fourth quarter worth $326,000. Amundi acquired a new position in CommScope in the fourth quarter valued at $137,000. Finally, Legal & General Group Plc boosted its holdings in CommScope by 986.1% in the fourth quarter. Legal & General Group Plc now owns 204,549 shares of the communications equipment provider’s stock valued at $1,066,000 after acquiring an additional 185,716 shares during the last quarter. Hedge funds and other institutional investors own 88.04% of the company’s stock.

CommScope Stock Up 5.7%

The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 2.84, a PEG ratio of 0.30 and a beta of 2.29. The stock has a fifty day moving average of $5.36 and a two-hundred day moving average of $5.22.

CommScope (NASDAQ:COMM) last issued its earnings results on Thursday, May 1st. The communications equipment provider reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.07. CommScope had a negative return on equity of 4.51% and a net margin of 16.89%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the firm earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 23.5% compared to the same quarter last year. Equities research analysts anticipate that CommScope Holding Company, Inc. will post -0.24 EPS for the current fiscal year.

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.