CommScope (NASDAQ:COMM) Trading Up 4.5% – Still a Buy?

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) traded up 4.5% during mid-day trading on Thursday . The company traded as high as $4.70 and last traded at $4.67. 171,056 shares traded hands during trading, a decline of 96% from the average session volume of 4,173,067 shares. The stock had previously closed at $4.47.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of CommScope from $1.25 to $2.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. StockNews.com upgraded shares of CommScope from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. Morgan Stanley lifted their target price on shares of CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, Northland Securities lifted their target price on shares of CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $2.50.

CommScope Trading Up 1.8 %

The firm has a market cap of $982.25 million, a PE ratio of -1.01, a PEG ratio of 0.21 and a beta of 2.09. The firm’s 50 day simple moving average is $5.84 and its 200 day simple moving average is $3.30.

CommScope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.33 by ($0.38). The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.42 billion. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 EPS. As a group, equities research analysts predict that CommScope Holding Company, Inc. will post 0.91 earnings per share for the current fiscal year.

Institutional Trading of CommScope

Several hedge funds have recently made changes to their positions in COMM. Assenagon Asset Management S.A. purchased a new stake in shares of CommScope during the 3rd quarter valued at about $11,023,000. Bank of Montreal Can purchased a new stake in shares of CommScope in the 3rd quarter worth approximately $7,023,000. Acadian Asset Management LLC lifted its position in shares of CommScope by 319.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,251,705 shares of the communications equipment provider’s stock worth $1,537,000 after purchasing an additional 953,171 shares during the period. Millennium Management LLC lifted its position in shares of CommScope by 19.9% in the 2nd quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider’s stock worth $6,242,000 after purchasing an additional 840,742 shares during the period. Finally, Marathon Asset Management LP lifted its position in shares of CommScope by 75.0% in the 2nd quarter. Marathon Asset Management LP now owns 1,750,000 shares of the communications equipment provider’s stock worth $2,152,000 after purchasing an additional 750,000 shares during the period. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

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.