CommScope (NASDAQ:COMM) Rating Increased to Hold at StockNews.com

CommScope (NASDAQ:COMM) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

A number of other equities analysts have also commented on the stock. Northland Securities reaffirmed a “market perform” rating on shares of CommScope in a research note on Friday, March 1st. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of CommScope in a research note on Monday, March 4th. Finally, Bank of America decreased their price objective 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. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $4.02.

CommScope Stock Performance

CommScope stock opened at $1.19 on Wednesday. The firm has a market cap of $252.61 million, a price-to-earnings ratio of -0.13 and a beta of 2.07. CommScope has a 1 year low of $0.86 and a 1 year high of $6.65. The firm’s 50 day moving average price is $1.19 and its two-hundred day moving average price is $1.71.

CommScope (NASDAQ:COMM) last posted its quarterly earnings results on Thursday, May 9th. The communications equipment provider reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.14. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.04 billion. CommScope had a negative net margin of 30.88% and a negative return on equity of 1.75%. As a group, equities analysts predict that CommScope will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On CommScope

A number of institutional investors have recently modified their holdings of COMM. New York State Common Retirement Fund boosted its stake in shares of CommScope by 14.6% during the 3rd quarter. New York State Common Retirement Fund now owns 73,992 shares of the communications equipment provider’s stock valued at $249,000 after buying an additional 9,432 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of CommScope by 23.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,510,264 shares of the communications equipment provider’s stock valued at $15,154,000 after purchasing an additional 854,808 shares during the last quarter. Blair William & Co. IL acquired a new stake in shares of CommScope in the 3rd quarter valued at $40,000. Rafferty Asset Management LLC lifted its stake in shares of CommScope by 45.1% in the 3rd quarter. Rafferty Asset Management LLC now owns 157,719 shares of the communications equipment provider’s stock valued at $530,000 after purchasing an additional 49,009 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of CommScope by 16.4% in the 3rd quarter. FMR LLC now owns 1,100,425 shares of the communications equipment provider’s stock valued at $3,697,000 after purchasing an additional 154,698 shares during the last quarter. Institutional investors and hedge funds 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.