CommScope (NASDAQ:COMM) Stock Rating Upgraded by Northland Securities

CommScope (NASDAQ:COMM) was upgraded by research analysts at Northland Securities from a “market perform” rating to an “outperform” rating in a report released on Monday, MarketBeat.com reports. The brokerage presently has a $12.00 price target on the communications equipment provider’s stock. Northland Securities’ target price would suggest a potential downside of 18.75% from the company’s current price.

COMM has been the topic of several other research reports. Wolfe Research started coverage on shares of CommScope in a report on Monday, July 7th. They issued a “peer perform” rating on the stock. Wall Street Zen downgraded shares of CommScope from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of CommScope from $6.00 to $7.50 and gave the stock a “hold” rating in a report on Tuesday, June 24th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $12.10.

CommScope Stock Up 1.8%

Shares of NASDAQ:COMM opened at $14.77 on Monday. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 5.55, a PEG ratio of 0.42 and a beta of 2.38. The firm’s 50-day simple moving average is $7.51 and its 200-day simple moving average is $5.83. CommScope has a fifty-two week low of $2.04 and a fifty-two week high of $15.65.

CommScope (NASDAQ:COMM) last issued its earnings results on Monday, August 4th. The communications equipment provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.20. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.27 billion. CommScope had a net margin of 16.61% and a negative return on equity of 5.96%. The business’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 earnings per share. On average, research analysts forecast that CommScope will post -0.24 EPS for the current year.

Institutional Trading of CommScope

A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in shares of CommScope by 9.2% in the second quarter. Bank of New York Mellon Corp now owns 792,197 shares of the communications equipment provider’s stock valued at $6,559,000 after purchasing an additional 66,784 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of CommScope by 116.3% in the second quarter. Teacher Retirement System of Texas now owns 105,271 shares of the communications equipment provider’s stock valued at $872,000 after purchasing an additional 56,604 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in shares of CommScope by 268.9% in the second quarter. Y Intercept Hong Kong Ltd now owns 175,084 shares of the communications equipment provider’s stock valued at $1,450,000 after purchasing an additional 127,619 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of CommScope by 14.1% in the second quarter. Nisa Investment Advisors LLC now owns 14,121 shares of the communications equipment provider’s stock valued at $117,000 after purchasing an additional 1,748 shares in the last quarter. Finally, West Michigan Advisors LLC purchased a new stake in shares of CommScope in the second quarter valued at about $83,000. Hedge funds and other institutional investors own 88.04% of the company’s stock.

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.