CommScope (NASDAQ:COMM) Sets New 52-Week High – Should You Buy?

CommScope Holding Company, Inc. (NASDAQ:COMM) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $20.16 and last traded at $20.3660, with a volume of 2217067 shares trading hands. The stock had previously closed at $19.93.

Analysts Set New Price Targets

A number of brokerages recently issued reports on COMM. Bank of America increased their price target on shares of CommScope from $20.00 to $23.50 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Northland Securities set a $25.00 target price on shares of CommScope in a research note on Friday, October 31st. Wall Street Zen upgraded CommScope from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Zacks Research raised CommScope from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CommScope in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, CommScope presently has a consensus rating of “Moderate Buy” and an average price target of $16.17.

CommScope Trading Down 5.4%

The company has a fifty day moving average of $17.15 and a 200-day moving average of $13.34. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 5.93, a PEG ratio of 0.96 and a beta of 2.38.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in shares of CommScope by 5.4% during the third quarter. Principal Financial Group Inc. now owns 15,778 shares of the communications equipment provider’s stock worth $244,000 after buying an additional 814 shares in the last quarter. Osaic Holdings Inc. lifted its stake in shares of CommScope by 4.7% in the second quarter. Osaic Holdings Inc. now owns 18,047 shares of the communications equipment provider’s stock worth $149,000 after buying an additional 818 shares in the last quarter. Arizona State Retirement System boosted its position in CommScope by 1.5% during the third quarter. Arizona State Retirement System now owns 60,871 shares of the communications equipment provider’s stock worth $942,000 after acquiring an additional 877 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in CommScope by 5.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 21,792 shares of the communications equipment provider’s stock valued at $180,000 after acquiring an additional 1,191 shares in the last quarter. Finally, Allworth Financial LP grew its stake in CommScope by 411.6% during the 3rd quarter. Allworth Financial LP now owns 1,719 shares of the communications equipment provider’s stock valued at $27,000 after acquiring an additional 1,383 shares in the last quarter. 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.