CommScope (NASDAQ:COMM) Raised to “Strong-Buy” at Wall Street Zen

CommScope (NASDAQ:COMM) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

Several other brokerages have also recently issued reports on COMM. Deutsche Bank Aktiengesellschaft lifted their price target on CommScope from $6.00 to $7.50 and gave the company a “hold” rating in a research report on Tuesday, June 24th. Citigroup upgraded CommScope to an “outperform” rating in a research report on Monday, August 4th. Bank of America upgraded CommScope from an “underperform” rating to a “buy” rating and lifted their price target for the company from $4.00 to $20.00 in a research report on Thursday, August 7th. Northland Securities set a $20.00 price target on CommScope in a research report on Tuesday, August 5th. Finally, Zacks Research cut CommScope from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $14.75.

CommScope Price Performance

COMM opened at $14.95 on Friday. CommScope has a 12 month low of $2.94 and a 12 month high of $17.13. The stock has a market cap of $3.31 billion, a P/E ratio of 5.62, a P/E/G ratio of 0.51 and a beta of 2.42. The stock’s 50 day moving average price is $15.74 and its 200 day moving average price is $9.34.

CommScope (NASDAQ:COMM) last posted its earnings results on Monday, August 4th. The communications equipment provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.24 by $0.20. CommScope had a negative return on equity of 6.29% and a net margin of 16.61%.The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period last year, the firm earned $0.34 EPS. The firm’s revenue was up 31.7% compared to the same quarter last year. Equities analysts anticipate that CommScope will post -0.24 EPS for the current year.

Institutional Investors Weigh In On CommScope

Several large investors have recently modified their holdings of COMM. Banque Transatlantique SA bought a new stake in shares of CommScope during the 1st quarter worth $34,000. Caliber Wealth Management LLC KS acquired a new stake in shares of CommScope in the first quarter worth $57,000. KBC Group NV acquired a new stake in shares of CommScope in the first quarter worth $65,000. West Michigan Advisors LLC acquired a new position in CommScope during the second quarter valued at $83,000. Finally, GAMMA Investing LLC raised its position in CommScope by 717.7% during the first quarter. GAMMA Investing LLC now owns 16,026 shares of the communications equipment provider’s stock valued at $85,000 after buying an additional 14,066 shares during the period. 88.04% of the stock is owned by institutional investors.

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.