CommScope (NASDAQ:COMM) Stock Price Up 7.3% – What’s Next?

CommScope Holding Company, Inc. (NASDAQ:COMM) rose 7.3% during trading on Tuesday . The stock traded as high as $5.37 and last traded at $5.28. Approximately 1,370,281 shares were traded during trading, a decline of 61% from the average daily volume of 3,544,274 shares. The stock had previously closed at $4.92.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on COMM shares. Raymond James downgraded CommScope from a “market perform” rating to an “underperform” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. upgraded CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research report on Tuesday. Finally, Morgan Stanley downgraded CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 target price for the company. in a research report on Tuesday, December 17th. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $3.00.

CommScope Price Performance

The firm has a fifty day moving average of $5.16 and a two-hundred day moving average of $4.55. The stock has a market capitalization of $1.17 billion, a P/E ratio of -1.22, a P/E/G ratio of 0.57 and a beta of 1.92.

CommScope (NASDAQ:COMM) last released its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.38). The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.42 billion. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 earnings per share. As a group, sell-side analysts forecast that CommScope Holding Company, Inc. will post -0.85 EPS for the current fiscal year.

Hedge Funds Weigh In On CommScope

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC purchased a new position in CommScope in the third quarter valued at about $31,000. National Bank of Canada FI grew its stake in CommScope by 109.1% in the third quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock valued at $33,000 after purchasing an additional 2,857 shares during the last quarter. Quarry LP grew its stake in CommScope by 1,005.4% in the third quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock valued at $50,000 after purchasing an additional 7,380 shares during the last quarter. Ballentine Partners LLC purchased a new position in CommScope in the fourth quarter valued at about $58,000. Finally, Belvedere Trading LLC purchased a new position in CommScope in the third quarter valued at about $68,000. 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.