Deutsche Bank initiated coverage on shares of Commscope (NASDAQ:COMM) in a report issued on Friday, Benzinga’s Daily Ratings Newsletter reports. The firm issued a buy rating and a $40.00 price objective on the communications equipment provider’s stock.

Other research analysts have also issued research reports about the stock. BidaskClub upgraded shares of Commscope from a strong sell rating to a sell rating in a research note on Monday, April 1st. Credit Suisse Group raised shares of Commscope from a neutral rating to an outperform rating and boosted their price objective for the company from $20.00 to $34.00 in a report on Tuesday, April 2nd. Raymond James raised shares of Commscope from an outperform rating to a strong-buy rating and set a $32.00 price objective for the company in a report on Wednesday, April 3rd. ValuEngine raised shares of Commscope from a strong sell rating to a sell rating in a report on Thursday, April 4th. Finally, Morgan Stanley cut their price objective on shares of Commscope from $23.00 to $21.00 and set an equal weight rating for the company in a report on Monday, January 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $29.80.

Shares of COMM opened at $26.04 on Friday. Commscope has a 52 week low of $15.09 and a 52 week high of $41.49. The stock has a market capitalization of $5.04 billion, a P/E ratio of 12.34, a P/E/G ratio of 2.37 and a beta of 1.15. The company has a current ratio of 2.72, a quick ratio of 2.03 and a debt-to-equity ratio of 2.27.

Commscope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, February 21st. The communications equipment provider reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.08. Commscope had a net margin of 3.07% and a return on equity of 23.55%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the business earned $0.47 EPS. Commscope’s quarterly revenue was down 5.6% on a year-over-year basis. Equities analysts expect that Commscope will post 2.68 earnings per share for the current year.

In other Commscope news, Director Frank M. Drendel sold 280,143 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $23.61, for a total value of $6,614,176.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Peter U. Karlsson sold 6,517 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $22.63, for a total transaction of $147,479.71. The disclosure for this sale can be found here. Insiders own 3.35% of the company’s stock.

Several institutional investors have recently modified their holdings of COMM. Levin Capital Strategies L.P. bought a new stake in shares of Commscope during the 4th quarter worth approximately $73,928,000. Two Sigma Advisers LP lifted its holdings in shares of Commscope by 257.6% during the 4th quarter. Two Sigma Advisers LP now owns 2,868,898 shares of the communications equipment provider’s stock worth $47,021,000 after acquiring an additional 2,066,600 shares during the period. Norges Bank bought a new stake in shares of Commscope during the 4th quarter worth approximately $29,617,000. Prudential Financial Inc. lifted its holdings in shares of Commscope by 104.4% during the 4th quarter. Prudential Financial Inc. now owns 3,196,815 shares of the communications equipment provider’s stock worth $52,395,000 after acquiring an additional 1,632,975 shares during the period. Finally, Two Sigma Investments LP lifted its holdings in shares of Commscope by 203.3% during the 4th quarter. Two Sigma Investments LP now owns 2,269,927 shares of the communications equipment provider’s stock worth $37,204,000 after acquiring an additional 1,521,596 shares during the period. 99.83% of the stock is owned by institutional investors.

About Commscope

CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.

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Analyst Recommendations for Commscope (NASDAQ:COMM)

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