BidaskClub downgraded shares of Commscope (NASDAQ:COMM) from a hold rating to a sell rating in a report issued on Saturday.
Several other analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Commscope from a buy rating to a hold rating in a research note on Wednesday. Northland Securities reiterated a hold rating and issued a $33.00 target price on shares of Commscope in a research note on Friday, February 16th. Barclays upgraded shares of Commscope from an equal weight rating to an overweight rating and increased their target price for the stock from $42.00 to $43.00 in a research note on Wednesday, February 14th. Longbow Research upgraded shares of Commscope from a neutral rating to a buy rating in a research note on Friday, January 26th. Finally, Citigroup increased their target price on shares of Commscope to $45.00 and gave the stock a buy rating in a research note on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $42.56.
Shares of Commscope (NASDAQ COMM) traded up $0.48 during mid-day trading on Friday, hitting $38.73. 990,622 shares of the company were exchanged, compared to its average volume of 1,937,024. The stock has a market cap of $7,396.35, a PE ratio of 19.27, a P/E/G ratio of 2.08 and a beta of 1.13. The company has a quick ratio of 2.07, a current ratio of 2.69 and a debt-to-equity ratio of 2.65. Commscope has a 12 month low of $30.95 and a 12 month high of $42.75.
Commscope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, February 15th. The communications equipment provider reported $0.47 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.47. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Commscope had a net margin of 4.25% and a return on equity of 26.02%. Commscope’s revenue was down 5.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.61 EPS. sell-side analysts anticipate that Commscope will post 2.45 EPS for the current fiscal year.
In other news, Director Stephen C. Gray sold 28,575 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $38.96, for a total value of $1,113,282.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Marvin S. Edwards, Jr. sold 50,000 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $36.45, for a total transaction of $1,822,500.00. The disclosure for this sale can be found here. Insiders sold a total of 218,859 shares of company stock worth $8,310,727 in the last three months. Insiders own 3.33% of the company’s stock.
Several large investors have recently modified their holdings of the company. Xact Kapitalforvaltning AB increased its holdings in shares of Commscope by 5.2% in the 4th quarter. Xact Kapitalforvaltning AB now owns 34,652 shares of the communications equipment provider’s stock worth $1,311,000 after buying an additional 1,722 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Commscope by 3,620.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 32,476 shares of the communications equipment provider’s stock worth $1,229,000 after buying an additional 31,603 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of Commscope by 10.4% in the 4th quarter. Sterling Capital Management LLC now owns 43,354 shares of the communications equipment provider’s stock worth $1,640,000 after buying an additional 4,067 shares during the last quarter. Soapstone Management L.P. bought a new position in shares of Commscope in the 4th quarter worth $15,132,000. Finally, BB&T Securities LLC increased its holdings in shares of Commscope by 160.2% in the 4th quarter. BB&T Securities LLC now owns 31,821 shares of the communications equipment provider’s stock worth $1,203,000 after buying an additional 19,591 shares during the last quarter.
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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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