CommScope Holding’s (COMM) Buy Rating Reaffirmed at Deutsche Bank AG
CommScope Holding Co. (NASDAQ:COMM)‘s stock had its “buy” rating reissued by equities researchers at Deutsche Bank AG in a research note issued to investors on Monday. They currently have a $35.00 price target on the stock. Deutsche Bank AG’s price target would indicate a potential upside of 13.27% from the company’s previous close.
COMM has been the topic of several other reports. TheStreet upgraded CommScope Holding from a “hold” rating to a “buy” rating in a research note on Friday, July 29th. Credit Agricole SA started coverage on CommScope Holding in a research report on Wednesday, June 15th. They issued a “buy” rating and a $40.00 price target for the company. Credit Suisse Group AG reiterated a “buy” rating on shares of CommScope Holding in a research report on Sunday, May 22nd. Zacks Investment Research upgraded CommScope Holding from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Tuesday, August 2nd. Finally, BTIG Research started coverage on CommScope Holding in a research report on Friday, June 17th. They issued a “buy” rating and a $41.00 price target for the company. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. CommScope Holding currently has an average rating of “Buy” and an average price target of $33.85.
CommScope Holding (NASDAQ:COMM) traded up 1.87% during trading on Monday, reaching $31.07. The company’s stock had a trading volume of 1,695,757 shares. CommScope Holding has a 52-week low of $19.37 and a 52-week high of $33.54. The company’s market cap is $5.99 billion. The stock has a 50-day moving average price of $29.42 and a 200 day moving average price of $29.36.
CommScope Holding (NASDAQ:COMM) last issued its earnings results on Thursday, July 28th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.05. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. CommScope Holding had a positive return on equity of 31.76% and a negative net margin of 1.78%. The business’s revenue was up 50.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 earnings per share. On average, analysts expect that CommScope Holding will post $2.50 EPS for the current year.
In other news, SVP Peter U. Karlsson sold 7,796 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $30.06, for a total value of $234,347.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Group L.P. Carlyle sold 11,500,000 shares of the company’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $29.04, for a total value of $333,960,000.00. The disclosure for this sale can be found here. 4.09% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Societe Generale purchased a new position in CommScope Holding during the second quarter worth about $100,000. Acrospire Investment Management LLC raised its stake in CommScope Holding by 153.8% in the second quarter. Acrospire Investment Management LLC now owns 3,300 shares of the company’s stock worth $102,000 after buying an additional 2,000 shares during the period. Panagora Asset Management Inc. bought a new stake in CommScope Holding during the second quarter worth $126,000. US Bancorp DE raised its stake in CommScope Holding by 90.1% in the second quarter. US Bancorp DE now owns 4,558 shares of the company’s stock worth $141,000 after buying an additional 2,160 shares during the period. Finally, Quantitative Systematic Strategies LLC bought a new stake in CommScope Holding during the second quarter worth $208,000.
About CommScope Holding
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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