CommScope (NASDAQ:COMM) Shares Up 4.5% – What’s Next?

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) shot up 4.5% on Thursday . The company traded as high as $4.70 and last traded at $4.67. 171,056 shares were traded during mid-day trading, a decline of 96% from the average session volume of 4,173,067 shares. The stock had previously closed at $4.47.

Analysts Set New Price Targets

A number of brokerages recently commented on COMM. Deutsche Bank Aktiengesellschaft increased their price objective on shares of CommScope from $1.25 to $2.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Northland Securities raised their price objective on shares of CommScope from $1.25 to $2.00 and gave the stock a “market perform” rating in a research note on Monday, August 12th. Morgan Stanley upped their target price on CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, StockNews.com raised CommScope from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $2.50.

CommScope Stock Down 6.5 %

The firm has a market cap of $895.90 million, a PE ratio of -0.94, a P/E/G ratio of 0.20 and a beta of 2.09. The firm’s 50 day moving average is $5.85 and its 200-day moving average is $3.31.

CommScope (NASDAQ:COMM) last issued its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.38). The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.42 billion. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 EPS. On average, analysts forecast that CommScope Holding Company, Inc. will post 0.91 earnings per share for the current year.

Institutional Trading of CommScope

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COMM. Headlands Technologies LLC boosted its position in shares of CommScope by 357.9% in the first quarter. Headlands Technologies LLC now owns 23,953 shares of the communications equipment provider’s stock worth $31,000 after acquiring an additional 18,722 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of CommScope in the 3rd quarter valued at $31,000. National Bank of Canada FI grew its stake in shares of CommScope by 109.1% during the 3rd quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock valued at $33,000 after buying an additional 2,857 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of CommScope by 5,083.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider’s stock worth $34,000 after buying an additional 25,212 shares during the last quarter. Finally, Quarry LP raised its position in shares of CommScope by 1,005.4% in the 3rd quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock worth $50,000 after buying an additional 7,380 shares during the period. 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.