Deutsche Bank Aktiengesellschaft Forecasts Strong Price Appreciation for CommScope (NASDAQ:COMM) Stock

CommScope (NASDAQ:COMM) had its price target raised by Deutsche Bank Aktiengesellschaft from $6.00 to $7.50 in a research note released on Tuesday,Benzinga reports. They currently have a hold rating on the communications equipment provider’s stock.

Separately, Wall Street Zen lowered CommScope from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $4.88.

CommScope Price Performance

Shares of NASDAQ:COMM opened at $8.19 on Tuesday. CommScope has a 1 year low of $1.05 and a 1 year high of $8.39. The company has a market cap of $1.77 billion, a PE ratio of 3.00, a P/E/G ratio of 0.31 and a beta of 2.29. The stock’s 50-day moving average is $5.46 and its 200 day moving average is $5.24.

CommScope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, May 1st. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.07. CommScope had a negative return on equity of 4.51% and a net margin of 16.89%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the business earned ($0.08) EPS. CommScope’s revenue was up 23.5% compared to the same quarter last year. Analysts expect that CommScope will post -0.24 EPS for the current fiscal year.

Institutional Trading of CommScope

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of CommScope by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 22,752,737 shares of the communications equipment provider’s stock worth $118,542,000 after buying an additional 694,363 shares during the last quarter. Deutsche Bank AG grew its stake in shares of CommScope by 8.2% in the 1st quarter. Deutsche Bank AG now owns 10,050,618 shares of the communications equipment provider’s stock worth $53,369,000 after buying an additional 761,605 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of CommScope by 244.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,498,510 shares of the communications equipment provider’s stock worth $50,437,000 after buying an additional 6,743,929 shares during the last quarter. Apollo Management Holdings L.P. purchased a new stake in shares of CommScope in the 1st quarter worth approximately $32,806,000. Finally, Geode Capital Management LLC grew its stake in shares of CommScope by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 5,126,442 shares of the communications equipment provider’s stock worth $26,715,000 after buying an additional 14,576 shares during the last quarter. Hedge funds and other institutional investors own 88.04% of the company’s stock.

About CommScope

CommScope Holding Company, Inc provides infrastructure solutions for communications, data center, and entertainment networks worldwide. The company operates through Connectivity and Cable Solutions (CCS); Outdoor Wireless Networks (OWN); Networking, Intelligent Cellular and Security Solutions (NICS), and Access Network Solutions (ANS) segments.