BidaskClub upgraded shares of Commscope (NASDAQ:COMM) from a sell rating to a hold rating in a report released on Wednesday.
Other analysts have also issued reports about the company. Barclays raised Commscope from an equal weight rating to an overweight rating and boosted their target price for the company from $42.00 to $43.00 in a research report on Wednesday, February 14th. ValuEngine raised Commscope from a hold rating to a buy rating in a research report on Friday, December 1st. Northland Securities reaffirmed a hold rating on shares of Commscope in a research report on Friday, November 10th. Longbow Research raised Commscope from a neutral rating to a buy rating in a research report on Friday, January 26th. Finally, Citigroup boosted their target price on Commscope to $45.00 and gave the company a buy rating in a research report on Thursday, January 11th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $42.78.
Shares of Commscope (NASDAQ:COMM) traded up $0.56 during trading hours on Wednesday, hitting $40.99. The stock had a trading volume of 1,048,890 shares, compared to its average volume of 1,878,323. The firm has a market cap of $7,827.94, a P/E ratio of 41.83, a price-to-earnings-growth ratio of 2.20 and a beta of 1.09. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.69 and a quick ratio of 2.07. Commscope has a 12 month low of $30.95 and a 12 month high of $42.75.
In other Commscope news, SVP Philip Martin Armstrong, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $39.02, for a total transaction of $390,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marvin S. Edwards, Jr. sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $40.03, for a total value of $2,001,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 213,575 shares of company stock valued at $8,288,882 over the last three months. Corporate insiders own 3.33% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. AMP Capital Investors Ltd grew its holdings in shares of Commscope by 64.7% in the third quarter. AMP Capital Investors Ltd now owns 72,036 shares of the communications equipment provider’s stock valued at $2,391,000 after acquiring an additional 28,300 shares in the last quarter. Telemus Capital LLC grew its holdings in shares of Commscope by 18.1% in the fourth quarter. Telemus Capital LLC now owns 16,825 shares of the communications equipment provider’s stock valued at $636,000 after acquiring an additional 2,575 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Commscope by 35.3% in the third quarter. Mackenzie Financial Corp now owns 19,913 shares of the communications equipment provider’s stock valued at $661,000 after acquiring an additional 5,191 shares in the last quarter. New York State Common Retirement Fund grew its holdings in shares of Commscope by 16.1% in the third quarter. New York State Common Retirement Fund now owns 463,414 shares of the communications equipment provider’s stock valued at $15,390,000 after acquiring an additional 64,414 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new position in shares of Commscope in the fourth quarter valued at approximately $475,000.
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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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