CommScope (COMM) Downgraded to Hold at Zacks Investment Research

CommScope (NASDAQ:COMM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “CommScope Holding Inc. is a premier network infrastructure provider. The Company, through its subsidiaries, provides end-to-end solutions connecting technology and wireless and wired networks. It operates in three segments: Wireless, Enterprise, and Broadband. CommScope Holding Company, Inc. is headquartered in Hickory, North Carolina. “

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COMM has been the subject of a number of other reports. BidaskClub cut CommScope from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 20th. Citigroup raised their target price on CommScope to $45.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Longbow Research upgraded CommScope from a “neutral” rating to a “buy” rating in a report on Friday, January 26th. Barclays upgraded CommScope from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $42.00 to $43.00 in a report on Wednesday, February 14th. Finally, Northland Securities restated a “hold” rating and set a $33.00 target price on shares of CommScope in a report on Friday, February 16th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. CommScope presently has an average rating of “Buy” and an average target price of $42.38.

Shares of NASDAQ:COMM opened at $40.68 on Wednesday. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.69 and a quick ratio of 2.07. The stock has a market cap of $7,787.15, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05. CommScope has a 12-month low of $30.95 and a 12-month high of $42.75.

CommScope (NASDAQ:COMM) last issued its quarterly earnings data on Thursday, February 15th. The communications equipment provider reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. CommScope had a return on equity of 26.02% and a net margin of 4.25%. The company’s quarterly revenue was down 5.0% on a year-over-year basis. During the same period last year, the company earned $0.61 EPS. sell-side analysts forecast that CommScope will post 2.45 EPS for the current year.

In other news, Director Stephen C. Gray sold 28,575 shares of CommScope stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $38.96, for a total value of $1,113,282.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank M. Drendel sold 58,983 shares of CommScope stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of $40.22, for a total value of $2,372,296.26. The disclosure for this sale can be found here. Insiders have sold a total of 147,558 shares of company stock valued at $5,877,278 over the last 90 days. 3.33% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank boosted its stake in shares of 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 buying an additional 1,699 shares during the period. Telemus Capital LLC boosted its stake in shares of CommScope by 18.1% in the 4th quarter. Telemus Capital LLC now owns 16,825 shares of the communications equipment provider’s stock valued at $636,000 after buying an additional 2,575 shares during the period. Sei Investments Co. boosted its stake in shares of CommScope by 19.6% in the 4th quarter. Sei Investments Co. now owns 289,211 shares of the communications equipment provider’s stock valued at $10,940,000 after buying an additional 47,445 shares during the period. First Republic Investment Management Inc. boosted its stake in shares of CommScope by 19.9% in the 4th quarter. First Republic Investment Management Inc. now owns 147,250 shares of the communications equipment provider’s stock valued at $5,570,000 after buying an additional 24,427 shares during the period. Finally, Maverick Capital Ltd. purchased a new position in shares of CommScope in the 4th quarter valued at about $75,894,000.

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About CommScope

CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.

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