Zacks Investment Research cut shares of CommScope Holding Company, Inc. (NASDAQ:COMM) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

According to Zacks, “CommScope Holding Inc. is a premier network infrastructure provider. The Company, through its subsidiaries, provides end-to-end solutions connecting technology and wireless and wired networks. It operates in three segments: Wireless, Enterprise, and Broadband. CommScope Holding Company, Inc. is headquartered in Hickory, North Carolina. “

Other equities analysts also recently issued research reports about the company. Citigroup Inc. upped their target price on CommScope Holding from $39.00 to $40.00 and gave the company a buy rating in a report on Thursday, November 2nd. Jefferies Group LLC reiterated a buy rating and issued a $40.00 target price on shares of CommScope Holding in a report on Thursday, October 12th. Longbow Research downgraded CommScope Holding from a buy rating to a neutral rating in a report on Friday, August 4th. BidaskClub downgraded CommScope Holding from a buy rating to a hold rating in a report on Wednesday, July 19th. Finally, ValuEngine downgraded CommScope Holding from a buy rating to a hold rating in a report on Saturday. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. CommScope Holding has an average rating of Buy and a consensus price target of $40.30.

CommScope Holding (NASDAQ:COMM) traded down $0.10 during trading hours on Tuesday, reaching $33.81. The company had a trading volume of 982,559 shares, compared to its average volume of 1,470,000. The firm has a market capitalization of $6,390.00, a P/E ratio of 16.11, a P/E/G ratio of 2.70 and a beta of 1.16. The company has a quick ratio of 2.10, a current ratio of 2.78 and a debt-to-equity ratio of 2.93. CommScope Holding has a 12-month low of $30.95 and a 12-month high of $42.75.

CommScope Holding (NASDAQ:COMM) last posted its quarterly earnings data on Wednesday, November 1st. The communications equipment provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. CommScope Holding had a net margin of 4.21% and a return on equity of 29.11%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the firm earned $0.81 earnings per share. The business’s quarterly revenue was down 12.8% on a year-over-year basis. equities analysts predict that CommScope Holding will post 2.02 earnings per share for the current year.

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CommScope Holding declared that its Board of Directors has initiated a share buyback program on Thursday, August 3rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the communications equipment provider to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Several large investors have recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. lifted its stake in CommScope Holding by 6.3% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 2,690 shares of the communications equipment provider’s stock valued at $113,000 after acquiring an additional 160 shares in the last quarter. Krilogy Financial LLC lifted its stake in CommScope Holding by 5.7% in the 2nd quarter. Krilogy Financial LLC now owns 3,170 shares of the communications equipment provider’s stock valued at $121,000 after acquiring an additional 170 shares in the last quarter. Financial Architects Inc lifted its stake in CommScope Holding by 9.8% in the 2nd quarter. Financial Architects Inc now owns 3,603 shares of the communications equipment provider’s stock valued at $137,000 after acquiring an additional 322 shares in the last quarter. Parametrica Management Ltd increased its position in shares of CommScope Holding by 3.8% during the 2nd quarter. Parametrica Management Ltd now owns 10,819 shares of the communications equipment provider’s stock worth $411,000 after purchasing an additional 396 shares during the last quarter. Finally, Scotia Capital Inc. increased its position in shares of CommScope Holding by 1.8% during the 2nd quarter. Scotia Capital Inc. now owns 35,408 shares of the communications equipment provider’s stock worth $1,346,000 after purchasing an additional 609 shares during the last quarter.

About CommScope Holding

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 Holding (NASDAQ:COMM)

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