Zacks Research Downgrades CommScope (NASDAQ:COMM) to Hold

CommScope (NASDAQ:COMM) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

COMM has been the subject of a number of other reports. Weiss Ratings restated a “hold (c)” rating on shares of CommScope in a research report on Wednesday, October 8th. Wall Street Zen raised CommScope from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Bank of America boosted their target price on CommScope from $20.00 to $23.50 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Finally, Northland Securities set a $25.00 price target on CommScope in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.17.

CommScope Trading Up 0.7%

Shares of CommScope stock opened at $18.28 on Monday. The company’s 50-day moving average price is $17.85 and its 200-day moving average price is $14.47. The company has a market cap of $4.05 billion, a price-to-earnings ratio of 5.57, a PEG ratio of 0.86 and a beta of 2.38. CommScope has a 12-month low of $2.94 and a 12-month high of $20.55.

Institutional Investors Weigh In On CommScope

A number of large investors have recently made changes to their positions in the business. Triumph Capital Management purchased a new position in shares of CommScope during the third quarter valued at about $438,000. Hudson Bay Capital Management LP boosted its position in CommScope by 142.8% during the 3rd quarter. Hudson Bay Capital Management LP now owns 2,428,389 shares of the communications equipment provider’s stock valued at $37,591,000 after acquiring an additional 1,428,389 shares in the last quarter. Severin Investments LLC purchased a new position in shares of CommScope during the 3rd quarter worth approximately $529,000. Allworth Financial LP raised its position in shares of CommScope by 411.6% in the 3rd quarter. Allworth Financial LP now owns 1,719 shares of the communications equipment provider’s stock worth $27,000 after acquiring an additional 1,383 shares in the last quarter. Finally, Cantor Fitzgerald L. P. purchased a new position in shares of CommScope in the 3rd quarter valued at approximately $515,000. 88.04% of the stock is currently owned by institutional investors.

CommScope Company Profile

CommScope Holdings, Inc is a global provider of network infrastructure solutions that enable the seamless transmission of voice, video and data across wired and wireless networks. The company designs, manufactures and delivers a broad portfolio of cable, connectivity and networking products, including fiber-optic and coaxial cables, modular connectivity systems, antennas, small cells and distributed antenna systems (DAS). CommScope’s offerings support the growing demands of telecommunications service providers, cable operators, enterprise customers and data center operators that require scalable, high-performance solutions.

Serving customers in more than 150 countries, CommScope’s product lines span the full network lifecycle from planning and design through installation and maintenance.