Commscope (NASDAQ:COMM) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Wednesday, March 7th.
Several other equities analysts also recently weighed in on COMM. Zacks Investment Research downgraded shares of Commscope from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Northland Securities restated a “hold” rating on shares of Commscope in a research report on Friday, November 10th. ValuEngine upgraded shares of Commscope from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Citigroup raised their price objective on shares of Commscope to $45.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Finally, Longbow Research upgraded shares of Commscope from a “neutral” rating to a “buy” rating in a research report on Friday, January 26th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Commscope currently has an average rating of “Buy” and a consensus price target of $42.78.
Commscope (NASDAQ COMM) traded up $0.44 during trading hours on Wednesday, hitting $40.91. 1,305,109 shares of the stock were exchanged, compared to its average volume of 1,557,038. Commscope has a 1 year low of $30.95 and a 1 year high of $42.75. The firm has a market capitalization of $7,728.64, a price-to-earnings ratio of 41.75, a P/E/G ratio of 2.17 and a beta of 1.09. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.69 and a quick ratio of 2.07.
In related news, insider Marvin S. Edwards, Jr. sold 50,000 shares of Commscope stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $38.66, for a total value of $1,933,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank M. Drendel sold 15,000 shares of Commscope stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $38.02, for a total transaction of $570,300.00. The disclosure for this sale can be found here. Insiders sold 153,575 shares of company stock valued at $6,008,282 in the last 90 days. Company insiders own 3.33% of the company’s stock.
Several large investors have recently modified their holdings of COMM. AMP Capital Investors Ltd increased its holdings in shares of Commscope by 64.7% in the 3rd quarter. AMP Capital Investors Ltd now owns 72,036 shares of the communications equipment provider’s stock valued at $2,391,000 after acquiring an additional 28,300 shares during the period. Telemus Capital LLC increased its holdings in shares of Commscope by 18.1% in the 4th quarter. Telemus Capital LLC now owns 16,825 shares of the communications equipment provider’s stock valued at $636,000 after acquiring an additional 2,575 shares during the period. Mackenzie Financial Corp increased its stake in Commscope by 35.3% in the 3rd quarter. Mackenzie Financial Corp now owns 19,913 shares of the communications equipment provider’s stock valued at $661,000 after buying an additional 5,191 shares during the period. New York State Common Retirement Fund increased its stake in Commscope by 16.1% in the 3rd quarter. New York State Common Retirement Fund now owns 463,414 shares of the communications equipment provider’s stock valued at $15,390,000 after buying an additional 64,414 shares during the period. Finally, State of Alaska Department of Revenue acquired a new position in Commscope in the 4th quarter valued at $475,000.
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Commscope Company Profile
CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.
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