Brokerages Set CommScope Holding Company, Inc. (NASDAQ:COMM) PT at $3.00

CommScope Holding Company, Inc. (NASDAQ:COMM) has been assigned an average rating of “Reduce” from the six analysts that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $3.00.

Several research analysts have recently issued reports on COMM shares. JPMorgan Chase & Co. upgraded shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a report on Tuesday, January 14th. Raymond James cut shares of CommScope from a “market perform” rating to an “underperform” rating in a research note on Monday, January 6th. Finally, Morgan Stanley cut shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price target for the company. in a research note on Tuesday, December 17th.

Institutional Trading of CommScope

Several large investors have recently bought and sold shares of the company. XTX Topco Ltd increased its holdings in shares of CommScope by 263.1% during the second quarter. XTX Topco Ltd now owns 198,264 shares of the communications equipment provider’s stock valued at $244,000 after purchasing an additional 143,654 shares during the period. Marshall Wace LLP grew its holdings in CommScope by 268.0% during the second quarter. Marshall Wace LLP now owns 661,777 shares of the communications equipment provider’s stock worth $814,000 after acquiring an additional 481,947 shares during the period. Point72 DIFC Ltd acquired a new position in CommScope during the second quarter worth about $140,000. Cubist Systematic Strategies LLC acquired a new position in CommScope during the second quarter worth about $144,000. Finally, Millennium Management LLC boosted its position in shares of CommScope by 19.9% in the 2nd quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider’s stock valued at $6,242,000 after purchasing an additional 840,742 shares during the period. Institutional investors and hedge funds own 88.04% of the company’s stock.

CommScope Stock Performance

CommScope stock opened at $4.69 on Friday. The company’s 50 day simple moving average is $5.30 and its 200-day simple moving average is $4.81. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -1.06, a price-to-earnings-growth ratio of 0.67 and a beta of 1.92. CommScope has a 1 year low of $0.86 and a 1 year high of $7.19.

CommScope (NASDAQ:COMM) last announced its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.38). CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the company earned $0.10 earnings per share. CommScope’s quarterly revenue was up 2.7% on a year-over-year basis. Equities analysts expect that CommScope will post -0.85 earnings per share for the current year.

CommScope Company Profile

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.