CommScope Holding Company, Inc. (COMM) Upgraded to “Overweight” by Morgan Stanley
Morgan Stanley upgraded shares of CommScope Holding Company, Inc. (NASDAQ:COMM) from an equal weight rating to an overweight rating in a research report sent to investors on Thursday, Marketbeat Ratings reports. They currently have $38.00 price target on the communications equipment provider’s stock.
Several other research analysts have also commented on COMM. TheStreet upgraded CommScope Holding from a c+ rating to a b rating in a research report on Tuesday, August 8th. Jefferies Group LLC reiterated a buy rating and issued a $40.00 price target (down previously from $43.00) on shares of CommScope Holding in a research report on Wednesday, August 9th. Northland Securities reiterated a hold rating and issued a $28.00 price target on shares of CommScope Holding in a research report on Thursday, August 10th. Barclays PLC lowered CommScope Holding from an overweight rating to an equal weight rating and dropped their price target for the stock from $41.00 to $36.00 in a research report on Friday, August 4th. Finally, Longbow Research lowered CommScope Holding from a buy rating to a neutral rating in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $41.73.
Shares of CommScope Holding (COMM) opened at 33.00 on Thursday. The stock has a 50 day moving average price of $35.14 and a 200-day moving average price of $37.97. The company has a market cap of $6.37 billion, a price-to-earnings ratio of 27.55 and a beta of 1.17. CommScope Holding has a 1-year low of $28.32 and a 1-year high of $42.75.
CommScope Holding (NASDAQ:COMM) last released its quarterly earnings results on Thursday, August 3rd. The communications equipment provider reported $0.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.05. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.23 billion. CommScope Holding had a return on equity of 33.38% and a net margin of 4.96%. The company’s revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 EPS. Equities research analysts forecast that CommScope Holding will post $2.22 earnings per share for the current year.
CommScope Holding declared that its Board of Directors has initiated a stock buyback plan on Thursday, August 3rd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the communications equipment provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
In other CommScope Holding news, Director Claudius E. Iv Watts bought 15,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was acquired at an average price of $32.87 per share, for a total transaction of $493,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy T. Yates bought 5,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were acquired at an average price of $32.62 per share, with a total value of $163,100.00. The disclosure for this purchase can be found here. 3.33% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in COMM. Utah Retirement Systems raised its position in shares of CommScope Holding by 0.4% in the first quarter. Utah Retirement Systems now owns 23,300 shares of the communications equipment provider’s stock valued at $972,000 after buying an additional 100 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of CommScope Holding by 6.3% in the first quarter. Nomura Asset Management Co. Ltd. now owns 2,690 shares of the communications equipment provider’s stock valued at $113,000 after buying an additional 160 shares during the period. Krilogy Financial LLC raised its position in shares of CommScope Holding by 5.7% in the second quarter. Krilogy Financial LLC now owns 3,170 shares of the communications equipment provider’s stock valued at $121,000 after buying an additional 170 shares during the period. Financial Architects Inc raised its position in shares of CommScope Holding by 9.8% in the second quarter. Financial Architects Inc now owns 3,603 shares of the communications equipment provider’s stock valued at $137,000 after buying an additional 322 shares during the period. Finally, Parametrica Management Ltd raised its position in shares of CommScope Holding by 3.8% in the second quarter. Parametrica Management Ltd now owns 10,819 shares of the communications equipment provider’s stock valued at $411,000 after buying an additional 396 shares during the period. Institutional investors and hedge funds own 96.77% of the company’s stock.
CommScope Holding Company Profile
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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