Brokerages Set CommScope Holding Company, Inc. (NASDAQ:COMM) Price Target at $16.17

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) have been given a consensus rating of “Moderate Buy” by the eleven brokerages that are covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $16.1667.

A number of research firms have recently weighed in on COMM. Wall Street Zen raised CommScope from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Northland Capmk upgraded shares of CommScope from a “hold” rating to a “strong-buy” rating in a report on Monday, August 4th. Morgan Stanley upgraded shares of CommScope from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $4.00 to $17.00 in a report on Tuesday, August 5th. Citigroup upgraded CommScope to an “outperform” rating in a research note on Monday, August 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CommScope in a report on Wednesday, October 8th.

CommScope Stock Up 0.7%

NASDAQ:COMM opened at $19.53 on Friday. The stock’s fifty day moving average is $16.26 and its two-hundred day moving average is $12.23. CommScope has a 52 week low of $2.94 and a 52 week high of $19.99. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of 5.95, a price-to-earnings-growth ratio of 0.93 and a beta of 2.43.

CommScope (NASDAQ:COMM) last released its earnings results on Thursday, October 30th. The communications equipment provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.25. CommScope had a negative return on equity of 13.70% and a net margin of 17.57%.The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the company posted ($0.05) EPS. CommScope’s revenue was up 50.6% compared to the same quarter last year. On average, sell-side analysts expect that CommScope will post -0.24 EPS for the current fiscal year.

Institutional Trading of CommScope

Several institutional investors and hedge funds have recently made changes to their positions in the company. CIBC Bancorp USA Inc. purchased a new stake in CommScope in the third quarter valued at approximately $352,000. Oberweis Asset Management Inc. acquired a new position in CommScope in the 3rd quarter valued at about $12,243,000. Kestra Private Wealth Services LLC purchased a new position in shares of CommScope in the 3rd quarter valued at approximately $1,084,000. Caxton Associates LLP lifted its holdings in shares of CommScope by 73.2% during the third quarter. Caxton Associates LLP now owns 98,779 shares of the communications equipment provider’s stock worth $1,529,000 after purchasing an additional 41,754 shares during the period. Finally, Triumph Capital Management purchased a new position in CommScope during the 3rd quarter worth $438,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

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.