CommScope (NASDAQ:COMM) Rating Increased to Strong-Buy at Zacks Research

CommScope (NASDAQ:COMM) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other research analysts also recently issued reports on the company. Northland Securities set a $25.00 price target on CommScope in a report on Friday, October 31st. Raymond James Financial raised CommScope from an “underperform” rating to an “outperform” rating and set a $19.00 price target on the stock in a report on Tuesday, August 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CommScope in a report on Wednesday, October 8th. Morgan Stanley raised CommScope from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $4.00 to $17.00 in a report on Tuesday, August 5th. Finally, Bank of America raised CommScope from an “underperform” rating to a “buy” rating and increased their target price for the company from $4.00 to $20.00 in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, CommScope has an average rating of “Moderate Buy” and an average target price of $15.58.

CommScope Trading Up 4.1%

CommScope stock opened at $16.59 on Tuesday. The business’s fifty day simple moving average is $15.92 and its two-hundred day simple moving average is $10.84. CommScope has a 12 month low of $2.94 and a 12 month high of $17.93. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 5.06, a price-to-earnings-growth ratio of 0.43 and a beta of 2.43.

CommScope (NASDAQ:COMM) last released its earnings results on Thursday, October 30th. The communications equipment provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.37 by $0.25. CommScope had a negative return on equity of 13.70% and a net margin of 17.57%.The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the company posted ($0.05) earnings per share. The company’s revenue for the quarter was up 50.6% compared to the same quarter last year. On average, equities research analysts predict that CommScope will post -0.24 EPS for the current year.

Institutional Trading of CommScope

A number of hedge funds and other institutional investors have recently bought and sold shares of COMM. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of CommScope during the first quarter worth about $143,000. Bank of New York Mellon Corp grew its position in shares of CommScope by 6.0% during the first quarter. Bank of New York Mellon Corp now owns 725,413 shares of the communications equipment provider’s stock worth $3,852,000 after purchasing an additional 41,286 shares in the last quarter. Mariner Investment Group LLC purchased a new position in CommScope during the 2nd quarter valued at approximately $207,000. Inspire Investing LLC grew its holdings in CommScope by 166.3% during the 1st quarter. Inspire Investing LLC now owns 205,787 shares of the communications equipment provider’s stock valued at $1,093,000 after buying an additional 128,511 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in CommScope during the 2nd quarter valued at approximately $496,000. Hedge funds and other institutional investors own 88.04% of the company’s stock.

About CommScope

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.