CommScope Holding Company, Inc. (NASDAQ:COMM) Given Average Recommendation of “Reduce” by Brokerages

CommScope Holding Company, Inc. (NASDAQ:COMM) has received an average recommendation of “Reduce” from the eight research firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $4.27.

Several brokerages have weighed in on COMM. Bank of America lowered their target price on shares of CommScope from $2.00 to $1.00 and set an “underperform” rating for the company in a research note on Wednesday, March 13th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of CommScope in a research note on Monday, March 4th. Northland Securities reiterated a “market perform” rating on shares of CommScope in a research note on Friday, March 1st. Finally, StockNews.com downgraded shares of CommScope from a “hold” rating to a “sell” rating in a research note on Friday, March 1st.

CommScope Stock Performance

Shares of NASDAQ:COMM opened at $1.16 on Monday. The firm has a market cap of $246.20 million, a PE ratio of -0.16 and a beta of 1.98. The firm’s 50 day simple moving average is $1.71 and its 200-day simple moving average is $2.13. CommScope has a one year low of $0.89 and a one year high of $6.65.

CommScope (NASDAQ:COMM) last issued its quarterly earnings data on Thursday, February 29th. The communications equipment provider reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.09). The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.53 billion. CommScope had a negative net margin of 21.64% and a negative return on equity of 7.18%. Equities research analysts predict that CommScope will post -0.29 EPS for the current fiscal year.

Insider Buying and Selling

In other CommScope news, Director L William Krause purchased 57,300 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were purchased at an average cost of $1.59 per share, for a total transaction of $91,107.00. Following the completion of the transaction, the director now owns 227,873 shares of the company’s stock, valued at approximately $362,318.07. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CommScope

Several institutional investors and hedge funds have recently bought and sold shares of COMM. Public Employees Retirement System of Ohio increased its holdings in CommScope by 4.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 25,878 shares of the communications equipment provider’s stock worth $238,000 after purchasing an additional 1,213 shares during the period. First Republic Investment Management Inc. lifted its stake in CommScope by 2.0% in the second quarter. First Republic Investment Management Inc. now owns 66,552 shares of the communications equipment provider’s stock worth $407,000 after acquiring an additional 1,331 shares during the last quarter. Vident Investment Advisory LLC grew its holdings in CommScope by 5.2% during the 4th quarter. Vident Investment Advisory LLC now owns 46,963 shares of the communications equipment provider’s stock worth $345,000 after acquiring an additional 2,318 shares in the last quarter. Legal & General Group Plc increased its position in shares of CommScope by 1.4% in the 4th quarter. Legal & General Group Plc now owns 192,899 shares of the communications equipment provider’s stock valued at $1,418,000 after purchasing an additional 2,676 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of CommScope by 11.7% in the 2nd quarter. ProShare Advisors LLC now owns 26,968 shares of the communications equipment provider’s stock valued at $152,000 after purchasing an additional 2,824 shares in the last quarter. 88.04% of the stock is currently owned by institutional investors and hedge funds.

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.