CommScope (NASDAQ:COMM) Downgraded to “Buy” Rating by Wall Street Zen

CommScope (NASDAQ:COMM) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other equities research analysts have also weighed in on COMM. Deutsche Bank Aktiengesellschaft upped their price objective on CommScope from $6.00 to $7.50 and gave the company a “hold” rating in a research note on Tuesday, June 24th. Raymond James Financial raised CommScope from an “underperform” rating to an “outperform” rating and set a $19.00 target price on the stock in a report on Tuesday. Wolfe Research began coverage on CommScope in a report on Monday, July 7th. They set a “peer perform” rating for the company. Morgan Stanley raised CommScope from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $4.00 to $17.00 in a report on Tuesday. Finally, Northland Capmk raised CommScope from a “hold” rating to a “strong-buy” rating in a report on Monday, August 4th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $14.75.

CommScope Trading Up 3.9%

NASDAQ COMM opened at $15.58 on Friday. CommScope has a 1-year low of $2.55 and a 1-year high of $15.74. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 5.86, a PEG ratio of 0.44 and a beta of 2.38. The stock’s 50 day moving average is $8.04 and its two-hundred day moving average is $6.02.

CommScope (NASDAQ:COMM) last released its quarterly earnings data 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. CommScope had a negative return on equity of 6.29% and a net margin of 16.61%. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the company posted $0.34 EPS. The company’s revenue was up 31.7% compared to the same quarter last year. On average, analysts predict that CommScope will post -0.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of COMM. Deutsche Bank AG lifted its stake in shares of CommScope by 8.2% in the 1st quarter. Deutsche Bank AG now owns 10,050,618 shares of the communications equipment provider’s stock valued at $53,369,000 after purchasing an additional 761,605 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of CommScope by 244.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,498,510 shares of the communications equipment provider’s stock valued at $50,437,000 after purchasing an additional 6,743,929 shares during the period. Apollo Management Holdings L.P. acquired a new position in shares of CommScope in the 1st quarter valued at $32,806,000. Geode Capital Management LLC raised its stake in CommScope by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 5,126,442 shares of the communications equipment provider’s stock worth $26,715,000 after buying an additional 14,576 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in CommScope by 10.5% during the fourth quarter. Renaissance Technologies LLC now owns 4,421,300 shares of the communications equipment provider’s stock worth $23,035,000 after acquiring an additional 421,000 shares in 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. 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.