CommScope (NASDAQ:COMM) Upgraded by StockNews.com to Hold

CommScope (NASDAQ:COMM) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

COMM has been the topic of several other reports. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of CommScope in a research report on Monday, March 4th. Northland Securities restated a “market perform” rating on shares of CommScope in a research report on Friday, March 1st. Finally, Bank of America dropped their price target on shares of CommScope from $2.00 to $1.00 and set an “underperform” rating on the stock in a research report on Wednesday, March 13th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.02.

CommScope Price Performance

NASDAQ:COMM opened at $1.19 on Wednesday. The firm’s 50 day simple moving average is $1.19 and its 200 day simple moving average is $1.71. CommScope has a one year low of $0.86 and a one year high of $6.65. The company has a market cap of $252.61 million, a PE ratio of -0.13 and a beta of 2.07.

CommScope (NASDAQ:COMM) last posted its earnings results on Thursday, May 9th. The communications equipment provider reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.14. CommScope had a negative net margin of 30.88% and a negative return on equity of 1.75%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.04 billion. Equities research analysts expect that CommScope will post -0.17 EPS for the current year.

Institutional Trading of CommScope

Several hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. increased its stake in shares of CommScope by 22.0% in the 4th quarter. Victory Capital Management Inc. now owns 27,568 shares of the communications equipment provider’s stock valued at $78,000 after acquiring an additional 4,978 shares in the last quarter. Stoneridge Investment Partners LLC increased its stake in shares of CommScope by 30.4% in the 4th quarter. Stoneridge Investment Partners LLC now owns 23,813 shares of the communications equipment provider’s stock valued at $67,000 after acquiring an additional 5,553 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of CommScope by 55.3% in the 4th quarter. Mackenzie Financial Corp now owns 19,514 shares of the communications equipment provider’s stock valued at $55,000 after acquiring an additional 6,949 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of CommScope by 14.6% in the 3rd quarter. New York State Common Retirement Fund now owns 73,992 shares of the communications equipment provider’s stock valued at $249,000 after acquiring an additional 9,432 shares in the last quarter. Finally, Symphony Financial Ltd. Co. bought a new stake in shares of CommScope in the 4th quarter valued at $28,000. Institutional investors own 88.04% of the company’s stock.

About CommScope

CommScope Holding Company, Inc provides infrastructure solutions for communications, data center, and entertainment networks worldwide. The company operates through Connectivity and Cable Solutions (CCS); Outdoor Wireless Networks (OWN); Networking, Intelligent Cellular and Security Solutions (NICS), and Access Network Solutions (ANS) segments.