CommScope (NASDAQ:COMM) Stock Rating Lowered by Zacks Research

CommScope (NASDAQ:COMM) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other analysts have also recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of CommScope in a report on Wednesday, October 8th. Bank of America increased their price objective on CommScope from $20.00 to $23.50 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Northland Securities set a $25.00 price objective on CommScope in a research note on Friday, October 31st. Finally, Wall Street Zen raised CommScope from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.17.

CommScope Trading Up 0.7%

NASDAQ:COMM opened at $18.28 on Monday. The company has a 50-day moving average of $17.85 and a 200-day moving average of $14.47. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 5.57, a price-to-earnings-growth ratio of 0.86 and a beta of 2.38. CommScope has a twelve month low of $2.94 and a twelve month high of $20.55.

Institutional Trading of CommScope

Hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP lifted its stake in CommScope by 411.6% in the 3rd quarter. Allworth Financial LP now owns 1,719 shares of the communications equipment provider’s stock worth $27,000 after acquiring an additional 1,383 shares in the last quarter. Banque Transatlantique SA acquired a new position in shares of CommScope in the 1st quarter valued at about $34,000. AlphaQuest LLC acquired a new position in shares of CommScope in the 3rd quarter valued at about $36,000. Bayforest Capital Ltd purchased a new stake in shares of CommScope in the third quarter worth approximately $38,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of CommScope during the third quarter worth approximately $43,000. Institutional investors and hedge funds own 88.04% of the company’s stock.

CommScope Company Profile

CommScope Holdings, Inc is a global provider of network infrastructure solutions that enable the seamless transmission of voice, video and data across wired and wireless networks. The company designs, manufactures and delivers a broad portfolio of cable, connectivity and networking products, including fiber-optic and coaxial cables, modular connectivity systems, antennas, small cells and distributed antenna systems (DAS). CommScope’s offerings support the growing demands of telecommunications service providers, cable operators, enterprise customers and data center operators that require scalable, high-performance solutions.

Serving customers in more than 150 countries, CommScope’s product lines span the full network lifecycle from planning and design through installation and maintenance.