CommScope (NASDAQ:COMM) Trading 6.5% Higher

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.

CommScope (NASDAQ:COMM – Get Rating) last issued its quarterly earnings results on Thursday, November 3rd. The communications equipment provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. The firm had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.30 billion. CommScope had a negative net margin of 2.90% and a negative return on equity of 87.03%. As a group, research analysts expect that CommScope Holding Company, Inc. will post 1.45 earnings per share for the current fiscal year.

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.

About CommScope

(Get Rating)

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.