BidaskClub Upgrades Commscope (NASDAQ:COMM) to Sell
Other equities research analysts have also recently issued research reports about the company. Deutsche Bank initiated coverage on Commscope in a report on Friday, April 12th. They set a “buy” rating and a $40.00 price target on the stock. Zacks Investment Research raised Commscope from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Friday, March 29th. Morgan Stanley set a $22.00 price target on Commscope and gave the company a “hold” rating in a report on Friday, February 22nd. Rosenblatt Securities reaffirmed a “hold” rating and set a $24.00 price target on shares of Commscope in a report on Friday, February 22nd. Finally, Credit Suisse Group raised Commscope from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $20.00 to $34.00 in a report on Tuesday, April 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Commscope currently has a consensus rating of “Hold” and an average target price of $28.27.
COMM opened at $16.25 on Tuesday. The company has a market cap of $3.20 billion, a PE ratio of 7.70, a price-to-earnings-growth ratio of 0.37 and a beta of 1.49. The company has a current ratio of 2.01, a quick ratio of 1.42 and a debt-to-equity ratio of 4.28. Commscope has a twelve month low of $15.09 and a twelve month high of $32.48.
In related news, COO Bruce William Mcclelland purchased 4,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were bought at an average price of $18.28 per share, with a total value of $73,120.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank M. Drendel sold 80,800 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $18.35, for a total value of $1,482,680.00. The disclosure for this sale can be found here. 3.25% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of COMM. AQR Capital Management LLC increased its holdings in shares of Commscope by 961.9% in the first quarter. AQR Capital Management LLC now owns 4,032,790 shares of the communications equipment provider’s stock valued at $86,786,000 after buying an additional 3,653,029 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of Commscope by 257.6% in the fourth quarter. Two Sigma Advisers LP now owns 2,868,898 shares of the communications equipment provider’s stock valued at $47,021,000 after buying an additional 2,066,600 shares in the last quarter. Norges Bank bought a new position in shares of Commscope in the fourth quarter valued at $29,617,000. Prudential Financial Inc. increased its holdings in shares of Commscope by 104.4% in the fourth quarter. Prudential Financial Inc. now owns 3,196,815 shares of the communications equipment provider’s stock valued at $52,395,000 after buying an additional 1,632,975 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of Commscope by 203.3% in the fourth quarter. Two Sigma Investments LP now owns 2,269,927 shares of the communications equipment provider’s stock valued at $37,204,000 after buying an additional 1,521,596 shares in the last quarter. 97.69% of the stock is currently owned by institutional investors.
Commscope Company Profile
CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.
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