CommScope (NASDAQ:COMM) Price Target Raised to $2.00

CommScope (NASDAQ:COMM) had its price objective lifted by investment analysts at Deutsche Bank Aktiengesellschaft from $1.25 to $2.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the communications equipment provider’s stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential downside of 17.70% from the stock’s previous close.

Separately, StockNews.com downgraded shares of CommScope from a “hold” rating to a “sell” rating in a research report on Friday, July 19th. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $2.75.

CommScope Price Performance

COMM stock traded up $0.12 during trading on Tuesday, reaching $2.43. The company had a trading volume of 4,546,209 shares, compared to its average volume of 3,791,677. The business has a 50 day moving average of $1.41 and a 200 day moving average of $1.50. The company has a market cap of $515.84 million, a P/E ratio of -0.27 and a beta of 2.09. CommScope has a 52 week low of $0.86 and a 52 week high of $4.64.

CommScope (NASDAQ:COMM) last issued its earnings results on Thursday, May 9th. The communications equipment provider reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.14. CommScope had a negative net margin of 30.88% and a negative return on equity of 1.75%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.04 billion. Research analysts expect that CommScope will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On CommScope

A number of hedge funds and other institutional investors have recently bought and sold shares of COMM. First Trust Advisors LP increased its stake in shares of CommScope by 42.7% in the fourth quarter. First Trust Advisors LP now owns 13,071,560 shares of the communications equipment provider’s stock worth $36,862,000 after acquiring an additional 3,911,673 shares during the period. Vanguard Group Inc. increased its position in CommScope by 8.0% during the third quarter. Vanguard Group Inc. now owns 37,076,845 shares of the communications equipment provider’s stock worth $124,578,000 after purchasing an additional 2,745,209 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in CommScope by 28.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,790,900 shares of the communications equipment provider’s stock valued at $16,330,000 after acquiring an additional 1,280,636 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in shares of CommScope by 217.1% during the 4th quarter. Teacher Retirement System of Texas now owns 1,561,443 shares of the communications equipment provider’s stock worth $4,403,000 after purchasing an additional 1,068,969 shares during the period. Finally, Brigade Capital Management LP raised its stake in shares of CommScope by 202.3% in the 4th quarter. Brigade Capital Management LP now owns 777,000 shares of the communications equipment provider’s stock valued at $2,191,000 after acquiring an additional 520,000 shares during the period. Hedge funds and other institutional investors own 88.04% of the company’s stock.

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.