CommScope Holding Co. (COMM) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of CommScope Holding Co. (NASDAQ:COMM) from a hold rating to a buy rating in a research note published on Tuesday. Zacks Investment Research currently has $34.00 price objective on the stock.
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. “
Several other research analysts have also commented on COMM. Credit Agricole SA started coverage on shares of CommScope Holding in a research note on Wednesday, June 15th. They set 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. BTIG Research started coverage on shares of CommScope Holding in a research note on Friday, June 17th. They set a buy rating and a $41.00 price objective for the company. Credit Suisse Group AG reiterated a buy rating on shares of CommScope Holding in a research note on Friday, July 29th. Finally, TheStreet upgraded shares of CommScope Holding from a hold rating to a buy rating in a research note on Friday, July 29th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. CommScope Holding presently has an average rating of Buy and an average price target of $34.07.
Shares of CommScope Holding (NASDAQ:COMM) traded up 0.26% during mid-day trading on Tuesday, reaching $30.59. 165,821 shares of the company’s stock traded hands. CommScope Holding has a 12-month low of $19.37 and a 12-month high of $33.54. The stock has a 50-day moving average price of $29.65 and a 200 day moving average price of $29.64. The firm’s market capitalization is $5.89 billion.
CommScope Holding (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The firm earned $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. CommScope Holding had a negative net margin of 1.78% and a positive return on equity of 31.76%. CommScope Holding’s revenue was up 50.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 EPS. Analysts anticipate that CommScope Holding will post $2.50 EPS for the current fiscal year.
In other news, Director Frank M. Drendel sold 7,336 shares of the firm’s stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $31.24, for a total value of $229,176.64. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Group L.P. Carlyle sold 10,000,000 shares of the firm’s stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $30.37, for a total transaction of $303,700,000.00. The disclosure for this sale can be found here. 4.09% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. increased its position in CommScope Holding by 14.1% in the second quarter. Macquarie Group Ltd. now owns 2,199,175 shares of the company’s stock valued at $68,240,000 after buying an additional 272,126 shares in the last quarter. Williams Jones & Associates LLC purchased a new stake in CommScope Holding during the second quarter valued at about $2,747,000. Public Employees Retirement System of Ohio boosted its stake in CommScope Holding by 55.8% in the second quarter. Public Employees Retirement System of Ohio now owns 41,858 shares of the company’s stock valued at $1,299,000 after buying an additional 14,989 shares during the last quarter. Calvert Investment Management Inc. purchased a new stake in CommScope Holding during the second quarter valued at about $217,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in CommScope Holding by 25.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 476,223 shares of the company’s stock valued at $14,778,000 after buying an additional 97,934 shares during the last quarter.
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.
Receive News & Stock Ratings for CommScope Holding Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CommScope Holding Co. and related stocks with our FREE daily email newsletter.