Analysts Set CommScope Holding Company, Inc. (COMM) Price Target at $40.90
Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) have been given a consensus recommendation of “Hold” by the sixteen research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $40.90.
Several equities research analysts have recently commented on the company. TheStreet raised CommScope Holding from a “c+” rating to a “b” rating in a report on Tuesday, August 8th. Northland Securities reaffirmed a “hold” rating and set a $28.00 target price on shares of CommScope Holding in a report on Thursday, August 10th. Jefferies Group LLC reaffirmed a “buy” rating and set a $40.00 target price (down from $43.00) on shares of CommScope Holding in a report on Wednesday, August 9th. Cross Research downgraded CommScope Holding from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Finally, Longbow Research downgraded CommScope Holding from a “buy” rating to a “neutral” rating in a report on Friday, August 4th.
In other news, Director Timothy T. Yates bought 5,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were bought at an average cost of $32.62 per share, with a total value of $163,100.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Claudius E. Iv Watts bought 15,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was purchased at an average cost of $32.87 per share, for a total transaction of $493,050.00. The disclosure for this purchase can be found here. Corporate insiders own 3.33% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of COMM. Columbus Circle Investors raised its position in shares of CommScope Holding by 17.4% in the first quarter. Columbus Circle Investors now owns 1,830,656 shares of the communications equipment provider’s stock valued at $76,357,000 after buying an additional 271,509 shares during the last quarter. Shell Asset Management Co. purchased a new position in shares of CommScope Holding during the first quarter valued at $1,963,000. Karp Capital Management Corp purchased a new position in shares of CommScope Holding during the first quarter valued at $438,000. Navellier & Associates Inc purchased a new position in shares of CommScope Holding during the first quarter valued at $493,000. Finally, Globeflex Capital L P purchased a new position in shares of CommScope Holding during the first quarter valued at $790,000. 96.77% of the stock is currently owned by institutional investors.
CommScope Holding (COMM) traded up 0.228% on Friday, hitting $32.915. The stock had a trading volume of 1,829,112 shares. The stock has a 50-day moving average of $35.59 and a 200-day moving average of $38.07. The company has a market cap of $6.35 billion, a PE ratio of 27.475 and a beta of 1.17. CommScope Holding has a one year low of $28.28 and a one year high of $42.75.
CommScope Holding (NASDAQ:COMM) last announced its earnings results on Thursday, August 3rd. The communications equipment provider reported $0.60 EPS for the quarter, missing the consensus estimate of $0.65 by $0.05. CommScope Holding had a net margin of 4.96% and a return on equity of 33.38%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the company earned $0.74 earnings per share. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. Equities analysts expect that CommScope Holding will post $2.22 earnings per share for the current fiscal year.
CommScope Holding declared that its Board of Directors has authorized a stock repurchase program on Thursday, August 3rd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the communications equipment provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
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.
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