CommScope (NASDAQ:COMM) Stock Price Up 7.5% – Time to Buy?

CommScope Holding Company, Inc. (NASDAQ:COMM) shares traded up 7.5% on Thursday . The stock traded as high as $7.99 and last traded at $8.34. 779,879 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 5,111,531 shares. The stock had previously closed at $7.75.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of CommScope from $6.00 to $7.50 and gave the company a “hold” rating in a research note on Tuesday. Wall Street Zen downgraded CommScope from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, CommScope has an average rating of “Hold” and a consensus target price of $4.88.

CommScope Stock Performance

The firm’s 50 day moving average is $5.56 and its 200 day moving average is $5.26. The stock has a market cap of $1.78 billion, a P/E ratio of 3.00, a price-to-earnings-growth ratio of 0.33 and a beta of 2.29.

CommScope (NASDAQ:COMM) last issued its quarterly earnings results on Thursday, May 1st. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.07. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. CommScope had a negative return on equity of 4.51% and a net margin of 16.89%. The business’s quarterly revenue was up 23.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.08) earnings per share. As a group, analysts expect that CommScope Holding Company, Inc. will post -0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On CommScope

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position 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 valued at $118,542,000 after purchasing an additional 694,363 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of CommScope by 8.2% during the first quarter. Deutsche Bank AG now owns 10,050,618 shares of the communications equipment provider’s stock valued at $53,369,000 after buying an additional 761,605 shares during the last quarter. Goldman Sachs Group Inc. increased its position 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 valued at $50,437,000 after acquiring an additional 6,743,929 shares during the period. Apollo Management Holdings L.P. acquired a new position in shares of CommScope in the 1st quarter valued at $32,806,000. Finally, Geode Capital Management LLC raised its stake in 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 acquiring an additional 14,576 shares during the last quarter. Institutional investors and hedge funds own 88.04% of the company’s stock.

CommScope Company Profile

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.