CommScope (NASDAQ:COMM) PT Raised to $2.00

CommScope (NASDAQ:COMM) had its price objective raised by Deutsche Bank Aktiengesellschaft from $1.25 to $2.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a hold rating on the communications equipment provider’s stock.

Separately, StockNews.com lowered CommScope from a hold rating to a sell rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $2.75.

CommScope Price Performance

Shares of COMM opened at $2.29 on Tuesday. The stock has a market capitalization of $486.11 million, a price-to-earnings ratio of -0.26 and a beta of 2.08. CommScope has a 1 year low of $0.86 and a 1 year high of $3.97. The business’s 50 day simple moving average is $1.51 and its 200-day simple moving average is $1.52.

CommScope (NASDAQ:COMM) last released its quarterly earnings results on Thursday, May 9th. The communications equipment provider reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.14. CommScope had a negative return on equity of 1.75% and a negative net margin of 30.88%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.04 billion. On average, sell-side analysts expect that CommScope will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On CommScope

Several hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. grew its position in CommScope by 22.0% in the 4th quarter. Victory Capital Management Inc. now owns 27,568 shares of the communications equipment provider’s stock valued at $78,000 after acquiring an additional 4,978 shares during the last quarter. Stoneridge Investment Partners LLC grew its position in shares of CommScope by 30.4% during the 4th quarter. Stoneridge Investment Partners LLC now owns 23,813 shares of the communications equipment provider’s stock worth $67,000 after buying an additional 5,553 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of CommScope by 55.3% during the 4th quarter. Mackenzie Financial Corp now owns 19,514 shares of the communications equipment provider’s stock worth $55,000 after buying an additional 6,949 shares in the last quarter. SummerHaven Investment Management LLC grew its position in shares of CommScope by 10.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 128,079 shares of the communications equipment provider’s stock worth $158,000 after buying an additional 12,017 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its position in shares of CommScope by 1.2% during the 4th quarter. Allianz Asset Management GmbH now owns 1,050,655 shares of the communications equipment provider’s stock worth $2,963,000 after buying an additional 12,578 shares in the last quarter. Institutional investors own 88.04% of the company’s stock.

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.