CommScope (NASDAQ:COMM) Stock Price Up 7%

CommScope Holding Company, Inc. (NASDAQ:COMM) shares rose 7% during trading on Thursday . The stock traded as high as $6.01 and last traded at $5.99. Approximately 726,000 shares were traded during trading, a decline of 82% from the average daily volume of 4,035,986 shares. The stock had previously closed at $5.60.

Wall Street Analysts Forecast Growth

Several research firms recently commented on COMM. Deutsche Bank Aktiengesellschaft increased their price objective on CommScope from $1.25 to $2.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Northland Securities increased their price target on CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a report on Monday, August 12th. Finally, StockNews.com raised CommScope from a “sell” rating to a “hold” rating in a report on Thursday, August 15th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $1.75.

CommScope Stock Performance

The stock has a market capitalization of $1.28 billion, a PE ratio of -0.68, a PEG ratio of 0.23 and a beta of 2.07. The stock has a 50-day moving average price of $3.31 and a two-hundred day moving average price of $1.95.

CommScope (NASDAQ:COMM) last issued its earnings results on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.23 billion. CommScope had a negative return on equity of 3.08% and a negative net margin of 31.24%. The company’s quarterly revenue was down 12.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 EPS. As a group, equities analysts predict that CommScope Holding Company, Inc. will post 0.91 earnings per share for the current year.

Hedge Funds Weigh In On CommScope

Several institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its position in shares of CommScope by 5.4% during the second quarter. The Manufacturers Life Insurance Company now owns 86,509 shares of the communications equipment provider’s stock valued at $106,000 after purchasing an additional 4,466 shares in the last quarter. Victory Capital Management Inc. increased its stake in CommScope by 22.0% in the 4th quarter. Victory Capital Management Inc. now owns 27,568 shares of the communications equipment provider’s stock worth $78,000 after acquiring an additional 4,978 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of CommScope by 10.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 128,079 shares of the communications equipment provider’s stock worth $158,000 after acquiring an additional 12,017 shares in the last quarter. Allianz Asset Management GmbH boosted its position in shares of CommScope by 1.2% during the 4th quarter. Allianz Asset Management GmbH now owns 1,050,655 shares of the communications equipment provider’s stock valued at $2,963,000 after acquiring an additional 12,578 shares during the last quarter. Finally, Headlands Technologies LLC grew its holdings in shares of CommScope by 357.9% in the first quarter. Headlands Technologies LLC now owns 23,953 shares of the communications equipment provider’s stock valued at $31,000 after purchasing an additional 18,722 shares in the last quarter. 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.