CommScope (NASDAQ:COMM) Cut to “Buy” at StockNews.com

CommScope (NASDAQ:COMM) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

Several other equities research analysts also recently issued reports on COMM. JPMorgan Chase & Co. upgraded CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $7.00 price objective on shares of CommScope in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, CommScope has a consensus rating of “Hold” and an average target price of $4.75.

CommScope Trading Up 1.9%

Shares of CommScope stock opened at $5.79 on Tuesday. The stock has a fifty day simple moving average of $4.50 and a 200 day simple moving average of $5.07. CommScope has a 12-month low of $1.05 and a 12-month high of $7.19. The company has a market capitalization of $1.25 billion, a P/E ratio of -1.31, a price-to-earnings-growth ratio of 0.41 and a beta of 2.06.

CommScope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, May 1st. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.07. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company posted ($0.08) earnings per share. CommScope’s revenue was up 23.5% compared to the same quarter last year. On average, analysts predict that CommScope will post -0.24 EPS for the current year.

Institutional Trading of CommScope

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ieq Capital LLC bought a new position in CommScope in the 1st quarter worth about $1,790,000. Jones Road Capital Management L.P. increased its stake in CommScope by 61.9% in the 1st quarter. Jones Road Capital Management L.P. now owns 607,000 shares of the communications equipment provider’s stock worth $3,223,000 after acquiring an additional 232,000 shares during the last quarter. Versor Investments LP increased its stake in CommScope by 531.9% in the 1st quarter. Versor Investments LP now owns 104,900 shares of the communications equipment provider’s stock worth $557,000 after acquiring an additional 88,300 shares during the last quarter. Algert Global LLC increased its stake in CommScope by 8.3% in the 1st quarter. Algert Global LLC now owns 158,885 shares of the communications equipment provider’s stock worth $844,000 after acquiring an additional 12,140 shares during the last quarter. Finally, American Century Companies Inc. bought a new position in CommScope in the 1st quarter worth about $91,000. 88.04% of the stock is currently owned by institutional investors.

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.