CommScope (NASDAQ:COMM) Raised to “Outperform” at Raymond James Financial

CommScope (NASDAQ:COMM) was upgraded by stock analysts at Raymond James Financial from an “underperform” rating to an “outperform” rating in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage presently has a $19.00 price target on the communications equipment provider’s stock. Raymond James Financial’s price target would suggest a potential upside of 31.58% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Northland Securities raised shares of CommScope from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research report on Monday. Wall Street Zen cut shares of CommScope from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 13th. Wolfe Research assumed coverage on shares of CommScope in a report on Monday, July 7th. They issued a “peer perform” rating for the company. Morgan Stanley raised shares of CommScope from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $4.00 to $17.00 in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of CommScope from $6.00 to $7.50 and gave the company a “hold” rating in a report on Tuesday, June 24th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.70.

CommScope Price Performance

Shares of COMM opened at $14.44 on Tuesday. CommScope has a 1-year low of $2.09 and a 1-year high of $15.65. The stock has a market cap of $3.13 billion, a PE ratio of 5.43, a price-to-earnings-growth ratio of 0.43 and a beta of 2.38. The firm has a fifty day moving average price of $7.51 and a 200 day moving average price of $5.83.

CommScope (NASDAQ:COMM) last announced its quarterly earnings results on Monday, August 4th. The communications equipment provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. CommScope had a net margin of 16.61% and a negative return on equity of 6.29%. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the company earned $0.34 earnings per share. CommScope’s quarterly revenue was up 31.7% compared to the same quarter last year. As a group, equities analysts expect that CommScope will post -0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new position in shares of CommScope during the fourth quarter worth about $27,000. Sterling Capital Management LLC grew its position in CommScope by 826.0% during the fourth quarter. Sterling Capital Management LLC now owns 6,760 shares of the communications equipment provider’s stock worth $35,000 after buying an additional 6,030 shares during the period. Banque Transatlantique SA acquired a new position in CommScope during the first quarter worth about $34,000. Tower Research Capital LLC TRC grew its position in CommScope by 67.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider’s stock worth $52,000 after buying an additional 4,026 shares during the period. Finally, West Michigan Advisors LLC acquired a new position in CommScope during the second quarter worth about $83,000. 88.04% of the stock is currently owned by institutional investors and hedge funds.

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.