Commscope (NASDAQ:COMM)‘s stock had its “hold” rating reissued by equities research analysts at Northland Securities in a research note issued on Friday. They currently have a $33.00 price objective on the communications equipment provider’s stock. Northland Securities’ target price would suggest a potential downside of 15.43% from the company’s current price.
COMM has been the topic of several other research reports. Citigroup raised their price target on Commscope to $45.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Zacks Investment Research downgraded Commscope from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. ValuEngine raised Commscope from a “hold” rating to a “buy” rating in a report on Friday, December 1st. BidaskClub raised Commscope from a “sell” rating to a “hold” rating in a report on Monday, February 5th. Finally, Barclays raised Commscope from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $42.00 to $43.00 in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $41.67.
Commscope (NASDAQ COMM) opened at $39.02 on Friday. The company has a current ratio of 2.78, a quick ratio of 2.10 and a debt-to-equity ratio of 2.93. Commscope has a 1-year low of $30.95 and a 1-year high of $42.75. The company has a market capitalization of $7,400.00, a P/E ratio of 35.47, a price-to-earnings-growth ratio of 2.48 and a beta of 1.13.
Commscope (NASDAQ:COMM) last released its earnings results on Thursday, February 15th. The communications equipment provider reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. Commscope had a return on equity of 26.71% and a net margin of 4.25%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the business posted $0.61 EPS. Commscope’s quarterly revenue was down 5.0% compared to the same quarter last year. sell-side analysts expect that Commscope will post 2.48 earnings per share for the current year.
In related news, insider Marvin S. Edwards, Jr. sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $38.66, for a total value of $1,933,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frank M. Drendel sold 5,284 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $38.01, for a total value of $200,844.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 180,284 shares of company stock worth $6,807,245. 3.33% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. increased its position in Commscope by 8.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 20,072 shares of the communications equipment provider’s stock valued at $667,000 after acquiring an additional 1,568 shares during the period. Amalgamated Bank increased its position in Commscope by 4.8% in the 4th quarter. Amalgamated Bank now owns 37,008 shares of the communications equipment provider’s stock valued at $1,400,000 after acquiring an additional 1,699 shares during the period. The Manufacturers Life Insurance Company increased its position in Commscope by 29.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,705 shares of the communications equipment provider’s stock valued at $294,000 after acquiring an additional 1,760 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of Commscope by 19.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 11,886 shares of the communications equipment provider’s stock valued at $395,000 after purchasing an additional 1,903 shares during the period. Finally, Telemus Capital LLC increased its position in shares of Commscope by 18.1% during the 4th quarter. Telemus Capital LLC now owns 16,825 shares of the communications equipment provider’s stock valued at $636,000 after purchasing an additional 2,575 shares during the period.
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Commscope Company Profile
CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.
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