Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) have received a consensus rating of “Hold” from the twelve analysts that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $19.10.
Several equities research analysts have recently commented on the stock. Bank of America downgraded shares of CommScope from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $22.00 to $15.00 in a research report on Thursday, September 23rd. Morgan Stanley boosted their target price on shares of CommScope from $19.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 6th. They noted that the move was a valuation call. Finally, Credit Suisse Group downgraded shares of CommScope from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $23.00 to $12.00 in a research report on Tuesday, October 5th.
Shares of COMM traded up $0.29 during mid-day trading on Thursday, hitting $12.00. 54,979 shares of the company’s stock were exchanged, compared to its average volume of 3,578,443. CommScope has a 52 week low of $8.39 and a 52 week high of $22.18. The stock’s 50-day simple moving average is $14.49 and its 200-day simple moving average is $17.50. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of -5.97, a price-to-earnings-growth ratio of 0.38 and a beta of 1.82. The company has a quick ratio of 1.12, a current ratio of 1.67 and a debt-to-equity ratio of 137.66.
A number of hedge funds have recently modified their holdings of the business. Boston Partners boosted its stake in CommScope by 394.2% in the second quarter. Boston Partners now owns 6,478,230 shares of the communications equipment provider’s stock valued at $138,106,000 after acquiring an additional 5,167,373 shares during the last quarter. Newbrook Capital Advisors LP purchased a new position in CommScope in the second quarter valued at about $38,916,000. Goldentree Asset Management LP boosted its stake in CommScope by 61.4% in the second quarter. Goldentree Asset Management LP now owns 4,323,557 shares of the communications equipment provider’s stock valued at $92,135,000 after acquiring an additional 1,644,898 shares during the last quarter. Wolf Hill Capital Management LP purchased a new position in CommScope in the second quarter valued at about $32,459,000. Finally, Nuveen Asset Management LLC boosted its stake in CommScope by 21.6% in the first quarter. Nuveen Asset Management LLC now owns 8,539,392 shares of the communications equipment provider’s stock valued at $131,165,000 after acquiring an additional 1,519,018 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.
CommScope Holding Co, Inc engages in the provision of infrastructure solutions for communications networks. It operates through the following segments: Broadband; Home; Outdoor Wireless Networks (OWN); and Venue and Campus Networks(VCN). The company was founded by Frank M. Drendel in 1976 and is headquartered in Hickory, NC.
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