CommScope Holding Company, Inc. (NASDAQ:COMM)‘s stock had its “buy” rating restated by Jefferies Group LLC in a report issued on Friday. They presently have a $43.00 target price on the communications equipment provider’s stock. Jefferies Group LLC’s price target suggests a potential upside of 24.64% from the company’s current price.
Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of CommScope Holding from a “sell” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Tuesday, May 2nd. Deutsche Bank AG raised their price objective on shares of CommScope Holding from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, April 19th. Barclays PLC raised their price objective on shares of CommScope Holding from $42.00 to $47.00 and gave the company an “overweight” rating in a research report on Wednesday, April 12th. TheStreet cut shares of CommScope Holding from a “b” rating to a “c+” rating in a research report on Monday, May 22nd. Finally, Nomura initiated coverage on shares of CommScope Holding in a research report on Thursday, May 25th. They issued a “buy” rating and a $45.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $44.20.
Shares of CommScope Holding (NASDAQ COMM) traded down 0.72% during mid-day trading on Friday, hitting $34.50. 2,401,702 shares of the stock were exchanged. CommScope Holding has a 1-year low of $28.28 and a 1-year high of $42.75. The company’s 50-day moving average is $37.39 and its 200-day moving average is $38.42. The firm has a market cap of $6.65 billion, a price-to-earnings ratio of 27.89 and a beta of 1.19.
CommScope Holding (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, May 4th. The communications equipment provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.14 billion. CommScope Holding had a net margin of 4.96% and a return on equity of 36.96%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company posted $0.48 EPS. Equities research analysts anticipate that CommScope Holding will post $2.73 earnings per share for the current fiscal year.
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In other CommScope Holding news, Director Timothy T. Yates bought 3,000 shares of CommScope Holding stock in a transaction dated Monday, May 8th. The shares were bought at an average price of $35.34 per share, with a total value of $106,020.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Claudius E. Iv Watts bought 15,000 shares of CommScope Holding stock in a transaction dated Tuesday, May 16th. The stock was acquired at an average cost of $36.75 per share, for a total transaction of $551,250.00. The disclosure for this purchase can be found here. Insiders sold a total of 37,370 shares of company stock worth $1,487,426 in the last ninety days. Insiders own 3.33% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky acquired a new position in shares of CommScope Holding during the fourth quarter valued at about $803,000. Norges Bank acquired a new position in shares of CommScope Holding during the fourth quarter valued at about $62,592,000. Highbridge Capital Management LLC raised its position in shares of CommScope Holding by 193.8% in the fourth quarter. Highbridge Capital Management LLC now owns 26,634 shares of the communications equipment provider’s stock valued at $991,000 after buying an additional 17,570 shares during the period. BHR Capital LLC acquired a new position in shares of CommScope Holding during the fourth quarter valued at about $1,302,000. Finally, Toth Financial Advisory Corp raised its position in shares of CommScope Holding by 1.5% in the first quarter. Toth Financial Advisory Corp now owns 28,760 shares of the communications equipment provider’s stock valued at $1,200,000 after buying an additional 425 shares during the period. 97.84% of the stock is currently owned by institutional investors.
About CommScope Holding
CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.
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