CommScope (NASDAQ:COMM) Trading Up 7.3% – What’s Next?

CommScope Holding Company, Inc. (NASDAQ:COMM) shares were up 7.3% during mid-day trading on Tuesday . The company traded as high as $5.37 and last traded at $5.28. Approximately 1,370,281 shares changed hands during trading, a decline of 61% from the average daily volume of 3,544,274 shares. The stock had previously closed at $4.92.

Analysts Set New Price Targets

Several equities analysts recently commented on COMM shares. Morgan Stanley cut shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective for the company. in a research note on Tuesday, December 17th. JPMorgan Chase & Co. upgraded CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a research report on Tuesday. Finally, Raymond James downgraded CommScope from a “market perform” rating to an “underperform” rating in a research report on Monday, January 6th. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $3.00.

CommScope Trading Up 6.9 %

The firm has a market cap of $1.14 billion, a P/E ratio of -1.19 and a beta of 1.92. The business’s fifty day simple moving average is $5.21 and its 200-day simple moving average is $4.51.

CommScope (NASDAQ:COMM) last posted its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.33 by ($0.38). CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the business posted $0.10 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Analysts anticipate that CommScope Holding Company, Inc. will post -0.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. BNP Paribas Financial Markets grew its holdings in shares of CommScope by 415.0% in the third quarter. BNP Paribas Financial Markets now owns 188,182 shares of the communications equipment provider’s stock valued at $1,150,000 after purchasing an additional 151,640 shares in the last quarter. Monarch Alternative Capital LP bought a new stake in shares of CommScope in the 3rd quarter worth about $16,623,000. XTX Topco Ltd lifted its holdings in shares of CommScope by 263.1% in the 2nd quarter. XTX Topco Ltd now owns 198,264 shares of the communications equipment provider’s stock valued at $244,000 after acquiring an additional 143,654 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of CommScope in the 2nd quarter valued at approximately $144,000. Finally, Point72 Asset Management L.P. purchased a new stake in CommScope in the third quarter worth $894,000. Hedge funds and other institutional investors 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.