CommScope (NASDAQ:COMM) Hits New 1-Year High – Here’s What Happened

CommScope Holding Company, Inc. (NASDAQ:COMM)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $18.05 and last traded at $17.90, with a volume of 1409094 shares traded. The stock had previously closed at $17.01.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Raymond James Financial raised CommScope from an “underperform” rating to an “outperform” rating and set a $19.00 price target for the company in a research report on Tuesday, August 5th. Bank of America upped their target price on shares of CommScope from $20.00 to $23.50 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Morgan Stanley upgraded shares of CommScope from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $4.00 to $17.00 in a report on Tuesday, August 5th. Northland Capmk raised shares of CommScope from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 4th. Finally, Zacks Research raised shares of CommScope from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, CommScope has a consensus rating of “Moderate Buy” and an average target price of $16.17.

CommScope Stock Performance

The stock has a 50 day moving average price of $16.09 and a 200 day moving average price of $11.87. The company has a market capitalization of $3.81 billion, a P/E ratio of 5.24, a PEG ratio of 0.79 and a beta of 2.43.

CommScope (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, October 30th. The communications equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.25. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.37 billion. CommScope had a net margin of 17.57% and a negative return on equity of 13.70%. The firm’s quarterly revenue was up 50.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.05) earnings per share. As a group, sell-side analysts expect that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current year.

Hedge Funds Weigh In On CommScope

Institutional investors have recently bought and sold shares of the company. CIBC Bancorp USA Inc. bought a new position in CommScope during the third quarter valued at $352,000. Oberweis Asset Management Inc. purchased a new position in shares of CommScope during the 3rd quarter valued at $12,243,000. Kestra Private Wealth Services LLC bought a new position in shares of CommScope during the 3rd quarter worth $1,084,000. Caxton Associates LLP increased its holdings in CommScope by 73.2% in the 3rd quarter. Caxton Associates LLP now owns 98,779 shares of the communications equipment provider’s stock worth $1,529,000 after acquiring an additional 41,754 shares during the last quarter. Finally, Triumph Capital Management purchased a new stake in CommScope in the 3rd quarter worth about $438,000. Hedge funds and other institutional investors own 88.04% of the company’s stock.

About CommScope

CommScope Holding Company, Inc provides infrastructure solutions for communications, data center, and entertainment networks worldwide. The company operates through Connectivity and Cable Solutions (CCS); Outdoor Wireless Networks (OWN); Networking, Intelligent Cellular and Security Solutions (NICS), and Access Network Solutions (ANS) segments.