CommScope (NASDAQ:COMM) Trading 13.7% Higher – Time to Buy?

CommScope Holding Company, Inc. (NASDAQ:COMM)’s stock price was up 13.7% on Monday . The stock traded as high as $5.33 and last traded at $5.32. Approximately 3,338,601 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 4,163,044 shares. The stock had previously closed at $4.68.

Analyst Upgrades and Downgrades

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

CommScope Trading Up 8.8 %

The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -1.16 and a beta of 2.09. The company’s 50 day simple moving average is $5.79 and its 200-day simple moving average is $3.49.

CommScope (NASDAQ:COMM) last issued 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 analysts’ expectations of $1.42 billion. During the same period in the prior year, the business posted $0.10 EPS. The business’s revenue was up 2.7% on a year-over-year basis. Sell-side analysts anticipate that CommScope Holding Company, Inc. will post -0.77 EPS for the current year.

Hedge Funds Weigh In On CommScope

Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of CommScope by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 5,111,866 shares of the communications equipment provider’s stock valued at $31,239,000 after purchasing an additional 155,166 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of CommScope in the third quarter worth $460,000. National Bank of Canada FI grew its stake in CommScope by 109.1% during the 3rd quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock valued at $33,000 after acquiring an additional 2,857 shares in the last quarter. Two Sigma Advisers LP increased its stake in CommScope by 29.3% in the 3rd quarter. Two Sigma Advisers LP now owns 4,303,800 shares of the communications equipment provider’s stock valued at $26,296,000 after buying an additional 975,200 shares during the period. Finally, State Street Corp raised its holdings in shares of CommScope by 9.2% during the third quarter. State Street Corp now owns 4,588,286 shares of the communications equipment provider’s stock worth $28,034,000 after acquiring an additional 387,466 shares in the last quarter. Institutional investors and hedge funds 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.