CommScope (NASDAQ:COMM) Price Target Increased to $7.00 by Analysts at Citigroup

CommScope (NASDAQ:COMMGet Rating) had its target price lifted by Citigroup from $6.00 to $7.00 in a research note issued to investors on Friday morning, The Fly reports. The firm currently has a sell rating on the communications equipment provider’s stock.

Other analysts have also issued reports about the stock. Evercore ISI reduced their price objective on shares of CommScope from $8.00 to $7.00 and set an in-line rating on the stock in a research report on Tuesday, June 28th. Morgan Stanley downgraded shares of CommScope from an overweight rating to an equal weight rating and upped their target price for the stock from $9.00 to $11.00 in a research note on Friday. Raymond James downgraded shares of CommScope from a market perform rating to an underperform rating in a research note on Monday, April 11th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of CommScope from $14.00 to $9.00 and set a buy rating on the stock in a research note on Wednesday, April 13th. Finally, JPMorgan Chase & Co. dropped their target price on shares of CommScope from $9.00 to $7.00 and set a neutral rating on the stock in a research note on Thursday, July 14th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $9.67.

CommScope Trading Down 1.3 %

Shares of NASDAQ COMM opened at $9.70 on Friday. The firm’s 50-day moving average price is $7.39 and its 200-day moving average price is $7.75. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -4.24, a P/E/G ratio of 0.26 and a beta of 1.87. CommScope has a 12-month low of $5.56 and a 12-month high of $16.74.

CommScope (NASDAQ:COMMGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The communications equipment provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.12. CommScope had a negative net margin of 4.65% and a negative return on equity of 145.83%. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the company posted $0.38 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities analysts predict that CommScope will post 1.33 EPS for the current fiscal year.

Insider Activity at CommScope

In other news, CFO Kyle David Lorentzen bought 17,887 shares of the firm’s stock in a transaction that occurred on Friday, June 3rd. The stock was bought at an average price of $8.11 per share, with a total value of $145,063.57. Following the completion of the transaction, the chief financial officer now directly owns 209,398 shares of the company’s stock, valued at approximately $1,698,217.78. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Charles L. Treadway purchased 59,927 shares of the firm’s stock in a transaction on Thursday, June 2nd. The stock was acquired at an average price of $8.34 per share, with a total value of $499,791.18. Following the completion of the acquisition, the chief executive officer now owns 1,212,302 shares in the company, valued at approximately $10,110,598.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kyle David Lorentzen purchased 17,887 shares of the firm’s stock in a transaction on Friday, June 3rd. The stock was bought at an average cost of $8.11 per share, with a total value of $145,063.57. Following the acquisition, the chief financial officer now owns 209,398 shares of the company’s stock, valued at approximately $1,698,217.78. The disclosure for this purchase can be found here. Insiders bought 87,814 shares of company stock valued at $714,555 over the last 90 days. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ensign Peak Advisors Inc lifted its position in CommScope by 63.5% during the fourth quarter. Ensign Peak Advisors Inc now owns 30,150 shares of the communications equipment provider’s stock valued at $333,000 after purchasing an additional 11,715 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of CommScope by 64.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 290,147 shares of the communications equipment provider’s stock worth $3,203,000 after buying an additional 113,565 shares during the last quarter. Virginia Retirement Systems ET AL boosted its stake in shares of CommScope by 37.9% in the fourth quarter. Virginia Retirement Systems ET AL now owns 20,000 shares of the communications equipment provider’s stock worth $221,000 after buying an additional 5,500 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of CommScope by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,172,135 shares of the communications equipment provider’s stock worth $23,981,000 after buying an additional 69,527 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of CommScope by 35.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,602,954 shares of the communications equipment provider’s stock worth $17,697,000 after buying an additional 420,354 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

CommScope Company Profile

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CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Outdoor Wireless Networks (OWN), Venue and Campus Networks (VCN), and Home Networks (Home). The Broadband segment provides converged cable access platforms, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products, and hardened closures to the telco and cable provider broadband market.

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