Commscope (COMM) Upgraded to “Hold” at BidaskClub
BidaskClub upgraded shares of Commscope (NASDAQ:COMM) from a sell rating to a hold rating in a research report sent to investors on Wednesday.
Several other research firms also recently commented on COMM. Northland Securities reiterated a hold rating and issued a $33.00 price objective on shares of Commscope in a research note on Friday, February 16th. Zacks Investment Research upgraded Commscope from a hold rating to a buy rating and set a $44.00 price objective on the stock in a research note on Tuesday, February 20th. Longbow Research upgraded Commscope from a neutral rating to a buy rating in a research note on Friday, January 26th. ValuEngine upgraded Commscope from a hold rating to a buy rating in a research note on Thursday, March 1st. Finally, Citigroup upped their price objective on Commscope to $45.00 and gave the company a buy rating in a research note on Thursday, January 11th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $42.78.
Commscope (COMM) traded up $0.56 during mid-day trading on Wednesday, hitting $40.99. The stock had a trading volume of 1,048,890 shares, compared to its average volume of 1,878,323. The company has a market capitalization of $7,827.94, a price-to-earnings ratio of 41.83, a PEG ratio of 2.20 and a beta of 1.09. The company has a current ratio of 2.69, a quick ratio of 2.07 and a debt-to-equity ratio of 2.65. Commscope has a 52 week low of $30.95 and a 52 week high of $42.75.
In other Commscope news, insider Marvin S. Edwards, Jr. sold 50,000 shares of the stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $40.03, for a total transaction of $2,001,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frank M. Drendel sold 15,000 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $38.02, for a total value of $570,300.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 213,575 shares of company stock worth $8,288,882. Company insiders own 3.33% of the company’s stock.
Several large investors have recently bought and sold shares of COMM. Franklin Resources Inc. lifted its position in shares of Commscope by 184.1% during the fourth quarter. Franklin Resources Inc. now owns 4,323,429 shares of the communications equipment provider’s stock worth $163,574,000 after acquiring an additional 2,801,866 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Commscope by 29.2% during the third quarter. JPMorgan Chase & Co. now owns 10,736,824 shares of the communications equipment provider’s stock worth $350,236,000 after acquiring an additional 2,429,290 shares in the last quarter. Maverick Capital Ltd. purchased a new stake in shares of Commscope during the fourth quarter worth $75,894,000. Iridian Asset Management LLC CT purchased a new stake in shares of Commscope during the third quarter worth $40,215,000. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Commscope during the third quarter worth $27,219,000.
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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