Morgan Stanley Issues Positive Forecast for CommScope (NASDAQ:COMM) Stock Price

CommScope (NASDAQ:COMM) had its price target increased by Morgan Stanley from $2.70 to $5.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the communications equipment provider’s stock. Morgan Stanley’s price target would indicate a potential downside of 24.70% from the stock’s current price.

Several other brokerages also recently issued reports on COMM. Northland Securities increased their price objective on CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a research note on Monday, August 12th. StockNews.com upgraded shares of CommScope from a “sell” rating to a “hold” rating in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, CommScope presently has an average rating of “Hold” and an average target price of $2.50.

CommScope Trading Up 3.4 %

Shares of COMM opened at $6.64 on Monday. CommScope has a 12-month low of $0.86 and a 12-month high of $7.07. The stock has a market cap of $1.43 billion, a P/E ratio of -0.81, a PEG ratio of 0.30 and a beta of 2.09. The company has a 50-day moving average of $5.70 and a two-hundred day moving average of $3.14.

CommScope (NASDAQ:COMM) last issued its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.23 billion. CommScope had a negative return on equity of 3.08% and a negative net margin of 31.24%. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.14 earnings per share. As a group, analysts forecast that CommScope will post 0.91 EPS for the current fiscal year.

Institutional Investors Weigh In On CommScope

Hedge funds have recently modified their holdings of the stock. Aigen Investment Management LP acquired a new position in CommScope during the third quarter worth approximately $352,000. Hanseatic Management Services Inc. purchased a new stake in shares of CommScope during the 3rd quarter valued at $76,000. Belvedere Trading LLC acquired a new stake in shares of CommScope during the 3rd quarter worth $68,000. Traynor Capital Management Inc. purchased a new position in shares of CommScope in the 3rd quarter worth $98,000. Finally, Semanteon Capital Management LP acquired a new position in CommScope in the third quarter valued at $1,139,000. 88.04% of the stock is owned by institutional investors and hedge funds.

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.