Commscope (NASDAQ:COMM) Rating Increased to Sell at BidaskClub

Commscope (NASDAQ:COMM) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Saturday, BidAskClub reports.

Other equities analysts also recently issued research reports about the company. TheStreet downgraded Commscope from a “c” rating to a “d” rating in a report on Friday, August 16th. Northland Securities restated a “buy” rating and set a $22.50 target price on shares of Commscope in a report on Friday, August 9th. Rosenblatt Securities restated a “buy” rating and set a $16.00 target price on shares of Commscope in a report on Friday, August 9th. Evercore ISI assumed coverage on Commscope in a report on Wednesday, September 11th. They set an “inline” rating and a $12.00 target price for the company. Finally, ValuEngine upgraded Commscope from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $19.13.

Shares of Commscope stock opened at $11.57 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.88 and a debt-to-equity ratio of 7.23. The company has a market cap of $2.26 billion, a PE ratio of 5.48, a P/E/G ratio of 0.39 and a beta of 1.51. The business has a 50 day moving average of $11.45 and a 200 day moving average of $16.07. Commscope has a 52 week low of $9.52 and a 52 week high of $27.00.

Commscope (NASDAQ:COMM) last announced its earnings results on Thursday, August 8th. The communications equipment provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.16. The company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.57 billion. Commscope had a positive return on equity of 25.08% and a negative net margin of 5.03%. The firm’s revenue for the quarter was up 107.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 earnings per share. On average, research analysts anticipate that Commscope will post 1.81 earnings per share for the current year.

In other news, Director L William Krause acquired 21,250 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was acquired at an average price of $11.87 per share, for a total transaction of $252,237.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.25% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COMM. Steward Partners Investment Advisory LLC purchased a new stake in shares of Commscope in the second quarter worth $43,000. Advisor Group Inc. grew its stake in shares of Commscope by 256.3% in the second quarter. Advisor Group Inc. now owns 4,482 shares of the communications equipment provider’s stock worth $71,000 after acquiring an additional 3,224 shares during the last quarter. Machina Capital S.A.S. grew its stake in shares of Commscope by 174.1% in the second quarter. Machina Capital S.A.S. now owns 5,236 shares of the communications equipment provider’s stock worth $82,000 after acquiring an additional 3,326 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Commscope in the second quarter worth $115,000. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of Commscope by 16.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 8,052 shares of the communications equipment provider’s stock worth $127,000 after acquiring an additional 1,115 shares during the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

About Commscope

CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.

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Analyst Recommendations for Commscope (NASDAQ:COMM)

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