CommScope Holding Co. (COMM) Rating Reiterated by Jefferies Group
CommScope Holding Co. (NASDAQ:COMM)‘s stock had its “buy” rating reaffirmed by stock analysts at Jefferies Group in a research report issued on Thursday. They presently have a $38.00 target price on the stock. Jefferies Group’s price objective points to a potential upside of 24.59% from the stock’s current price.
Several other equities research analysts have also commented on COMM. Credit Suisse Group AG reiterated a “buy” rating on shares of CommScope Holding in a research note on Sunday, May 22nd. Credit Agricole SA started coverage on shares of CommScope Holding in a research note on Wednesday, June 15th. They issued a “buy” rating and a $40.00 price objective for the company. Deutsche Bank AG reiterated a “buy” rating on shares of CommScope Holding in a research note on Wednesday, June 15th. Zacks Investment Research lowered shares of CommScope Holding from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 28th. Finally, TheStreet upgraded shares of CommScope Holding from a “hold” rating to a “buy” rating in a research note on Friday, July 29th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $33.85.
Shares of CommScope Holding (NASDAQ:COMM) opened at 30.50 on Thursday. CommScope Holding has a one year low of $19.37 and a one year high of $33.54. The company’s market cap is $5.88 billion. The stock’s 50 day moving average price is $29.42 and its 200-day moving average price is $29.36.
CommScope Holding (NASDAQ:COMM) last posted its earnings results on Thursday, July 28th. The company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.05. CommScope Holding had a negative net margin of 1.78% and a positive return on equity of 31.76%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the business posted $0.49 EPS. The firm’s revenue was up 50.7% compared to the same quarter last year. On average, analysts expect that CommScope Holding will post $2.50 EPS for the current year.
In related news, SVP Peter U. Karlsson sold 7,796 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $30.06, for a total value of $234,347.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Group L.P. Carlyle sold 11,500,000 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $29.04, for a total transaction of $333,960,000.00. The disclosure for this sale can be found here. 4.09% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COMM. Norges Bank acquired a new position in CommScope Holding during the fourth quarter valued at approximately $24,635,000. BlackRock Inc. increased its position in CommScope Holding by 220.0% in the first quarter. BlackRock Inc. now owns 14,404 shares of the company’s stock valued at $402,000 after buying an additional 9,903 shares during the period. BlackRock Group LTD increased its position in CommScope Holding by 29.6% in the first quarter. BlackRock Group LTD now owns 100,780 shares of the company’s stock valued at $2,814,000 after buying an additional 23,036 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in CommScope Holding by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,983,877 shares of the company’s stock valued at $83,310,000 after buying an additional 43,619 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of CommScope Holding by 14.7% in the first quarter. JPMorgan Chase & Co. now owns 4,830,370 shares of the company’s stock valued at $134,863,000 after buying an additional 620,738 shares during the last quarter.
CommScope Holding Company Profile
CommScope Holding Company, Inc is provider of infrastructure solutions for wireless, business enterprise and residential broadband networks. The Company operates through four segments: Wireless, Enterprise, Broadband and Broadband Network Solutions (BNS). Its Wireless segment provides merchant RF wireless network connectivity solutions and cell distributed antenna systems (DAS) solutions to enable carriers’ second generation (2G), third generation (3G) and fourth generation (4G) networks.
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