Commscope (NASDAQ:COMM) Upgraded at BidaskClub

BidaskClub upgraded shares of Commscope (NASDAQ:COMM) from a strong sell rating to a sell rating in a report published on Tuesday, BidAskClub reports.

Several other equities analysts have also recently issued reports on the stock. Morgan Stanley raised shares of Commscope from an equal weight rating to an overweight rating and set a $22.00 price objective on the stock in a research note on Wednesday, June 5th. Zacks Investment Research cut shares of Commscope from a strong-buy rating to a sell rating and set a $17.00 price objective on the stock. in a research note on Tuesday, June 4th. JPMorgan Chase & Co. assumed coverage on shares of Commscope in a research note on Monday, April 22nd. They issued an overweight rating on the stock. ValuEngine cut shares of Commscope from a sell rating to a strong sell rating in a research note on Saturday, April 13th. Finally, Deutsche Bank assumed coverage on shares of Commscope in a research note on Friday, April 12th. They issued a buy rating and a $40.00 price objective on the stock. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. Commscope presently has a consensus rating of Hold and an average price target of $28.27.

Shares of COMM opened at $16.40 on Tuesday. The company has a market capitalization of $3.14 billion, a PE ratio of 7.77, a price-to-earnings-growth ratio of 0.36 and a beta of 1.49. The company has a debt-to-equity ratio of 4.28, a quick ratio of 1.42 and a current ratio of 2.01. Commscope has a 12-month low of $15.09 and a 12-month high of $32.48.

Commscope (NASDAQ:COMM) last announced its quarterly earnings data on Thursday, May 9th. The communications equipment provider reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.07. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Commscope had a net margin of 2.29% and a return on equity of 23.46%. The business’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS. As a group, research analysts forecast that Commscope will post 2.26 EPS for the current fiscal year.

In other news, Director Frank M. Drendel sold 80,800 shares of Commscope stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $18.35, for a total value of $1,482,680.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Bruce William Mcclelland bought 3,500 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was purchased at an average cost of $18.00 per share, for a total transaction of $63,000.00. The disclosure for this purchase can be found here. Company insiders own 3.25% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in COMM. Daiwa Securities Group Inc. increased its position in shares of Commscope by 11.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 7,595 shares of the communications equipment provider’s stock worth $124,000 after acquiring an additional 750 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Commscope by 200.6% in the first quarter. Advisors Asset Management Inc. now owns 6,382 shares of the communications equipment provider’s stock worth $139,000 after acquiring an additional 4,259 shares in the last quarter. Bank of Montreal Can increased its position in shares of Commscope by 24.9% in the first quarter. Bank of Montreal Can now owns 8,256 shares of the communications equipment provider’s stock worth $179,000 after acquiring an additional 1,644 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Commscope by 31.3% in the first quarter. PNC Financial Services Group Inc. now owns 8,511 shares of the communications equipment provider’s stock worth $185,000 after acquiring an additional 2,030 shares in the last quarter. Finally, M&T Bank Corp increased its position in shares of Commscope by 7.0% in the fourth quarter. M&T Bank Corp now owns 11,771 shares of the communications equipment provider’s stock worth $193,000 after acquiring an additional 774 shares in the last quarter. 97.69% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Commscope (NASDAQ:COMM)

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