CommScope (NASDAQ:COMM) Stock Rating Upgraded by Raymond James

CommScope (NASDAQ:COMM) was upgraded by Raymond James from an “underperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports.

A number of other equities research analysts have also commented on COMM. Bank of America lowered shares of CommScope from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $2.25 to $1.75 in a research note on Friday, November 10th. Morgan Stanley lowered their price objective on CommScope from $4.50 to $2.00 and set an “equal weight” rating for the company in a research report on Friday, November 10th. Northland Securities cut their target price on CommScope from $7.00 to $6.00 in a research report on Friday, August 4th. Credit Suisse Group downgraded CommScope from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $11.00 to $5.10 in a report on Monday, July 24th. Finally, StockNews.com assumed coverage on CommScope in a report on Thursday, October 5th. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, CommScope has a consensus rating of “Hold” and a consensus price target of $5.19.

CommScope Price Performance

Shares of COMM stock opened at $1.90 on Thursday. The stock has a market capitalization of $402.91 million, a PE ratio of -0.19, a PEG ratio of 0.15 and a beta of 1.97. The business’s 50 day simple moving average is $2.53 and its 200 day simple moving average is $3.78. CommScope has a one year low of $1.34 and a one year high of $9.34.

Insider Transactions at CommScope

In other CommScope news, Director Claudius E. Iv Watts purchased 60,000 shares of CommScope stock in a transaction that occurred on Monday, November 13th. The stock was acquired at an average price of $1.39 per share, with a total value of $83,400.00. Following the transaction, the director now owns 776,030 shares in the company, valued at approximately $1,078,681.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other CommScope news, Director Claudius E. Iv Watts purchased 60,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were acquired at an average price of $1.39 per share, with a total value of $83,400.00. Following the transaction, the director now owns 776,030 shares in the company, valued at $1,078,681.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles L. Treadway purchased 153,019 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were bought at an average price of $1.63 per share, with a total value of $249,420.97. Following the purchase, the chief executive officer now directly owns 2,213,206 shares in the company, valued at approximately $3,607,525.78. The disclosure for this purchase can be found here. Insiders have bought 253,019 shares of company stock valued at $433,121 over the last ninety days. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On CommScope

Several large investors have recently bought and sold shares of COMM. Bank of New York Mellon Corp lifted its position in shares of CommScope by 5.6% during the first quarter. Bank of New York Mellon Corp now owns 808,218 shares of the communications equipment provider’s stock valued at $6,367,000 after purchasing an additional 43,072 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of CommScope by 48.5% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 137,200 shares of the communications equipment provider’s stock worth $1,081,000 after buying an additional 44,800 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of CommScope in the 1st quarter worth approximately $51,000. MetLife Investment Management LLC bought a new position in shares of CommScope in the first quarter valued at approximately $102,000. Finally, BlackRock Inc. increased its position in shares of CommScope by 22.1% during the first quarter. BlackRock Inc. now owns 14,164,751 shares of the communications equipment provider’s stock valued at $111,616,000 after acquiring an additional 2,560,861 shares during the last quarter. 88.04% of the stock is currently owned by institutional investors.

About CommScope

CommScope Holding Company, Inc provides infrastructure solutions for communications, data center, and entertainment networks worldwide. It operates through five segments: Connectivity and Cable Solutions (CCS); Outdoor Wireless Networks (OWN); Networking, Intelligent Cellular and Security Solutions (NICS); Access Network Solutions (ANS); and Home Networks (Home).