CommScope (NASDAQ:COMM) Shares Up 4.5% – Still a Buy?

CommScope Holding Company, Inc. (NASDAQ:COMM) shares traded up 4.5% on Thursday . The company traded as high as $4.70 and last traded at $4.67. 171,056 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 4,173,067 shares. The stock had previously closed at $4.47.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on COMM shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. StockNews.com raised CommScope from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Northland Securities upped 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, Morgan Stanley raised their price objective on shares of CommScope from $2.70 to $5.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $2.50.

CommScope Stock Down 6.5 %

The company has a market cap of $895.90 million, a price-to-earnings ratio of -0.94, a price-to-earnings-growth ratio of 0.20 and a beta of 2.09. The firm has a 50-day simple moving average of $5.85 and a 200 day simple moving average of $3.31.

CommScope (NASDAQ:COMM) last announced its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.38). CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the firm earned $0.10 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. As a group, research analysts expect that CommScope Holding Company, Inc. will post 0.91 EPS for the current year.

Hedge Funds Weigh In On CommScope

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Future Financial Wealth Managment LLC acquired a new stake in CommScope during the 3rd quarter worth approximately $31,000. National Bank of Canada FI lifted its holdings in shares of CommScope by 109.1% during the third quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock worth $33,000 after purchasing an additional 2,857 shares during the period. Quarry LP increased its stake in CommScope by 1,005.4% in the 3rd quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock valued at $50,000 after buying an additional 7,380 shares during the period. Belvedere Trading LLC acquired a new position in CommScope in the 3rd quarter valued at $68,000. Finally, Creative Planning purchased a new position in CommScope during the 3rd quarter worth $73,000. Hedge funds and other institutional investors own 88.04% of the company’s stock.

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.