BidaskClub Downgrades Commscope (NASDAQ:COMM) to Strong Sell

BidaskClub lowered shares of Commscope (NASDAQ:COMM) from a sell rating to a strong sell rating in a research report sent to investors on Friday morning, BidAskClub reports.

COMM has been the subject of several other research reports. Deutsche Bank set a $28.00 price target on Commscope and gave the stock a buy rating in a research report on Friday, August 9th. Evercore ISI reissued a hold rating and set a $14.00 price objective on shares of Commscope in a research report on Monday, November 11th. Citigroup lowered shares of Commscope from a buy rating to a neutral rating and reduced their price objective for the company from $16.00 to $13.00 in a research note on Tuesday, October 29th. Bank of America reduced their price objective on shares of Commscope from $26.00 to $16.00 and set a neutral rating for the company in a research note on Friday, August 9th. Finally, TheStreet cut shares of Commscope from a c rating to a d rating in a report on Friday, August 16th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $18.23.

Shares of COMM opened at $13.07 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.86 and a debt-to-equity ratio of 8.34. The business’s 50 day moving average price is $13.33 and its 200-day moving average price is $13.50. Commscope has a 52 week low of $9.52 and a 52 week high of $27.00. The stock has a market cap of $2.56 billion, a P/E ratio of 6.19, a P/E/G ratio of 0.60 and a beta of 1.58.

Commscope (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.11. The company had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.42 billion. Commscope had a positive return on equity of 27.25% and a negative net margin of 7.26%. The firm’s revenue for the quarter was up 106.9% on a year-over-year basis. During the same quarter last year, the company earned $0.59 EPS. On average, equities analysts anticipate that Commscope will post 1.76 EPS for the current year.

In other Commscope news, Director Frank M. Drendel sold 153,877 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $14.25, for a total value of $2,192,747.25. 3.25% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its position in Commscope by 16.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 8,052 shares of the communications equipment provider’s stock worth $127,000 after purchasing an additional 1,115 shares during the period. Commerce Bank boosted its stake in shares of Commscope by 15.6% in the 2nd quarter. Commerce Bank now owns 10,674 shares of the communications equipment provider’s stock worth $168,000 after buying an additional 1,440 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Commscope by 7.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 27,292 shares of the communications equipment provider’s stock worth $426,000 after acquiring an additional 1,787 shares during the period. Rhumbline Advisers grew its holdings in shares of Commscope by 1.2% in the third quarter. Rhumbline Advisers now owns 151,886 shares of the communications equipment provider’s stock worth $1,786,000 after acquiring an additional 1,853 shares during the period. Finally, Worldquant Millennium Advisors LLC increased its position in Commscope by 0.8% during the second quarter. Worldquant Millennium Advisors LLC now owns 283,834 shares of the communications equipment provider’s stock valued at $4,465,000 after acquiring an additional 2,352 shares during the last quarter.

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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