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.
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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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.
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