Commscope (COMM) Downgraded to Hold at BidaskClub

BidaskClub cut shares of Commscope (NASDAQ:COMM) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

Other analysts have also recently issued research reports about the stock. Jefferies Group restated a buy rating and set a $40.00 target price on shares of Commscope in a report on Wednesday, September 20th. Citigroup boosted their target price on shares of Commscope from $39.00 to $40.00 and gave the company a buy rating in a report on Thursday, November 2nd. Zacks Investment Research upgraded shares of Commscope from a hold rating to a buy rating and set a $36.00 target price on the stock in a report on Thursday, October 19th. ValuEngine upgraded shares of Commscope from a hold rating to a buy rating in a research note on Friday, December 1st. Finally, Northland Securities reiterated a hold rating on shares of Commscope in a research note on Friday, November 10th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $40.30.

Shares of Commscope (NASDAQ COMM) traded down $0.28 during mid-day trading on Thursday, hitting $37.87. 1,318,900 shares of the stock were exchanged, compared to its average volume of 1,413,800. Commscope has a 1 year low of $30.95 and a 1 year high of $42.75. The company has a market cap of $7,270.00, a PE ratio of 38.25, a PEG ratio of 2.49 and a beta of 1.20. The company has a current ratio of 2.78, a quick ratio of 2.10 and a debt-to-equity ratio of 2.93.

Commscope (NASDAQ:COMM) last announced its earnings results on Wednesday, November 1st. The communications equipment provider reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. Commscope had a net margin of 4.21% and a return on equity of 29.11%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the previous year, the business posted $0.81 EPS. The company’s quarterly revenue was down 12.8% on a year-over-year basis. equities research analysts expect that Commscope will post 2.01 earnings per share for the current year.

In other Commscope news, insider Marvin S. Edwards, Jr. sold 50,000 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $36.45, for a total transaction of $1,822,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frank M. Drendel sold 15,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $38.02, for a total transaction of $570,300.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 130,284 shares of company stock worth $4,874,245. 3.33% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of COMM. Capital Research Global Investors lifted its stake in Commscope by 478.2% during the 2nd quarter. Capital Research Global Investors now owns 14,502,567 shares of the communications equipment provider’s stock valued at $551,533,000 after acquiring an additional 11,994,126 shares during the period. Janus Henderson Group PLC bought a new position in Commscope during the 2nd quarter valued at about $128,505,000. BlackRock Inc. lifted its stake in Commscope by 19.0% during the 2nd quarter. BlackRock Inc. now owns 15,275,547 shares of the communications equipment provider’s stock valued at $580,929,000 after acquiring an additional 2,438,894 shares during the period. JPMorgan Chase & Co. lifted its stake in Commscope by 29.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,736,824 shares of the communications equipment provider’s stock valued at $350,236,000 after acquiring an additional 2,429,290 shares during the period. Finally, Harris Associates L P lifted its stake in Commscope by 58.6% during the 2nd quarter. Harris Associates L P now owns 6,390,730 shares of the communications equipment provider’s stock valued at $243,039,000 after acquiring an additional 2,361,663 shares during the period.

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About Commscope

CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.

Analyst Recommendations for Commscope (NASDAQ:COMM)

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