Shares of CommScope Holding Company, Inc. (NASDAQ:COMM – Get Rating) traded up 6.5% during mid-day trading on Friday . The stock traded as high as $9.08 and last traded at $9.03. 227,097 shares were traded during mid-day trading, a decline of 91% from the average session volume of 2,610,568 shares. The stock had previously closed at $8.48.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of CommScope in a report on Wednesday, October 12th. They issued a “hold” rating for the company. JPMorgan Chase & Co. cut their price objective on shares of CommScope from $14.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 20th. Bank of America raised shares of CommScope from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $8.00 to $15.00 in a research report on Thursday. TheStreet raised shares of CommScope from a “d+” rating to a “c-” rating in a research report on Wednesday, October 19th. Finally, Morgan Stanley cut their price objective on shares of CommScope from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 13th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $10.88.
CommScope Stock Performance
The firm’s 50-day simple moving average is $8.16 and its 200 day simple moving average is $9.41. The stock has a market capitalization of $1.90 billion, a P/E ratio of -5.82, a PEG ratio of 0.18 and a beta of 1.78.
Institutional Investors Weigh In On CommScope
Institutional investors and hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC raised its holdings in shares of CommScope by 2,089.9% in the 3rd quarter. Lazard Asset Management LLC now owns 3,460 shares of the communications equipment provider’s stock valued at $31,000 after purchasing an additional 3,302 shares during the period. Nisa Investment Advisors LLC bought a new stake in shares of CommScope in the 2nd quarter valued at about $38,000. US Bancorp DE raised its holdings in shares of CommScope by 27.3% in the 2nd quarter. US Bancorp DE now owns 6,353 shares of the communications equipment provider’s stock valued at $38,000 after purchasing an additional 1,364 shares during the period. Captrust Financial Advisors raised its holdings in shares of CommScope by 124.4% in the 2nd quarter. Captrust Financial Advisors now owns 6,356 shares of the communications equipment provider’s stock valued at $39,000 after purchasing an additional 3,524 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in CommScope in the 1st quarter valued at about $51,000. 90.18% of the stock is owned by institutional investors.
CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Outdoor Wireless Networks (OWN), Venue and Campus Networks (VCN), and Home Networks (Home). The Broadband segment provides converged cable access platforms, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products, and hardened closures to the telco and cable provider broadband market.
- Get a free copy of the StockNews.com research report on CommScope (COMM)
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