CommScope (NASDAQ:COMM) Hits New 12-Month High at $4.50

CommScope Holding Company, Inc. (NASDAQ:COMM) shares reached a new 52-week high during trading on Monday . The stock traded as high as $4.50 and last traded at $4.49, with a volume of 4920238 shares traded. The stock had previously closed at $4.07.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Northland Securities boosted their price objective on CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft increased their price target on shares of CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Finally, StockNews.com upgraded shares of CommScope from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, CommScope presently has a consensus rating of “Hold” and an average target price of $1.75.

CommScope Stock Performance

The stock has a market capitalization of $1.11 billion, a PE ratio of -0.58, a price-to-earnings-growth ratio of 0.18 and a beta of 2.07. The business’s 50-day moving average is $2.87 and its two-hundred day moving average is $1.81.

CommScope (NASDAQ:COMM) last issued its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). CommScope had a negative return on equity of 3.08% and a negative net margin of 31.24%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the firm earned $0.14 earnings per share. The company’s revenue was down 12.7% compared to the same quarter last year. Equities analysts forecast that CommScope Holding Company, Inc. will post 0.91 EPS for the current year.

Institutional Investors Weigh In On CommScope

Institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of CommScope by 28.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,790,900 shares of the communications equipment provider’s stock valued at $16,330,000 after purchasing an additional 1,280,636 shares during the period. Teacher Retirement System of Texas grew its holdings in shares of CommScope by 217.1% in the 4th quarter. Teacher Retirement System of Texas now owns 1,561,443 shares of the communications equipment provider’s stock worth $4,403,000 after acquiring an additional 1,068,969 shares during the period. BNP Paribas Financial Markets increased its stake in CommScope by 6.5% in the 4th quarter. BNP Paribas Financial Markets now owns 344,412 shares of the communications equipment provider’s stock valued at $971,000 after purchasing an additional 20,914 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in CommScope by 5,083.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider’s stock valued at $34,000 after purchasing an additional 25,212 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of CommScope in the fourth quarter valued at $300,000. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

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.