Analysts Set CommScope Holding Company, Inc. (NASDAQ:COMM) Target Price at $4.02

CommScope Holding Company, Inc. (NASDAQ:COMM) has been given a consensus recommendation of “Reduce” by the seven brokerages that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $4.02.

COMM has been the subject of a number of research analyst reports. StockNews.com cut shares of CommScope from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Bank of America reduced their price objective on CommScope from $2.00 to $1.00 and set an “underperform” rating on the stock in a research note on Wednesday, March 13th. Northland Securities restated a “market perform” rating on shares of CommScope in a research note on Friday, March 1st. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of CommScope in a research report on Monday, March 4th.

Insider Buying and Selling at CommScope

In related news, Director L William Krause bought 57,300 shares of CommScope stock in a transaction on Tuesday, March 12th. The shares were purchased at an average price of $1.59 per share, for a total transaction of $91,107.00. Following the completion of the acquisition, the director now owns 227,873 shares in the company, valued at $362,318.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On CommScope

Large investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its holdings in shares of CommScope by 36.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,324,515 shares of the communications equipment provider’s stock valued at $1,735,000 after buying an additional 353,799 shares during the period. Allspring Global Investments Holdings LLC grew its stake in CommScope by 5,083.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider’s stock valued at $34,000 after acquiring an additional 25,212 shares during the period. Quadrature Capital Ltd acquired a new position in CommScope in the fourth quarter valued at about $198,000. Kent Lake Capital LLC bought a new stake in shares of CommScope in the fourth quarter worth about $705,000. Finally, Brigade Capital Management LP raised its position in shares of CommScope by 202.3% during the fourth quarter. Brigade Capital Management LP now owns 777,000 shares of the communications equipment provider’s stock worth $2,191,000 after purchasing an additional 520,000 shares during the period. Institutional investors own 88.04% of the company’s stock.

CommScope Trading Up 2.3 %

COMM opened at $0.94 on Friday. The business has a 50 day moving average of $1.32 and a 200-day moving average of $1.89. The stock has a market capitalization of $198.64 million, a price-to-earnings ratio of -0.13 and a beta of 1.98. CommScope has a 1-year low of $0.86 and a 1-year high of $6.65.

CommScope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, February 29th. The communications equipment provider reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.09). The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.53 billion. CommScope had a negative net margin of 21.64% and a negative return on equity of 7.18%. Equities analysts predict that CommScope will post -0.29 EPS 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.