CommScope (NASDAQ:COMM) Lowered to Buy Rating by StockNews.com

StockNews.com lowered shares of CommScope (NASDAQ:COMM) from a strong-buy rating to a buy rating in a report released on Tuesday.

Several other brokerages also recently issued reports on COMM. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $7.00 price target on shares of CommScope in a report on Thursday, February 27th. JPMorgan Chase & Co. upgraded shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $4.75.

CommScope Trading Up 3.3%

NASDAQ COMM opened at $5.68 on Tuesday. The firm has a market capitalization of $1.23 billion, a P/E ratio of -1.29, a price-to-earnings-growth ratio of 0.41 and a beta of 2.06. The firm’s fifty day moving average price is $4.49 and its two-hundred day moving average price is $5.06. CommScope has a 1 year low of $1.05 and a 1 year high of $7.19.

CommScope (NASDAQ:COMM) last issued its earnings results on Thursday, May 1st. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.07. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. CommScope’s revenue was up 23.5% on a year-over-year basis. During the same period last year, the business posted ($0.08) EPS. On average, research analysts anticipate that CommScope will post -0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in COMM. Deutsche Bank AG boosted its position in shares of CommScope by 182.2% in the fourth quarter. Deutsche Bank AG now owns 9,289,013 shares of the communications equipment provider’s stock valued at $48,396,000 after acquiring an additional 5,996,931 shares during the period. LMR Partners LLP acquired a new position in CommScope in the 4th quarter valued at $14,328,000. Nuveen LLC acquired a new stake in shares of CommScope during the 1st quarter worth $13,507,000. Hudson Bay Capital Management LP increased its position in shares of CommScope by 150.1% in the fourth quarter. Hudson Bay Capital Management LP now owns 2,500,558 shares of the communications equipment provider’s stock worth $13,028,000 after purchasing an additional 1,500,558 shares during the period. Finally, Sculptor Capital LP raised its stake in CommScope by 218.7% in the fourth quarter. Sculptor Capital LP now owns 1,603,000 shares of the communications equipment provider’s stock valued at $8,352,000 after purchasing an additional 1,100,000 shares in the last quarter. 88.04% of the stock is owned by institutional investors and hedge funds.

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.