CommScope (NASDAQ:COMM) Upgraded to “Neutral” at JPMorgan Chase & Co.

CommScope (NASDAQ:COMM) was upgraded by research analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a report released on Tuesday,Finviz reports. The firm presently has a $5.00 price target on the communications equipment provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 1.63% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. Raymond James cut CommScope from a “market perform” rating to an “underperform” rating in a report on Monday, January 6th. Morgan Stanley lowered shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective on the stock. in a research note on Tuesday, December 17th. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $3.00.

CommScope Stock Performance

Shares of COMM opened at $4.92 on Tuesday. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -1.11 and a beta of 1.92. CommScope has a 52 week low of $0.86 and a 52 week high of $7.19. The business’s fifty day moving average price is $5.21 and its two-hundred day moving average price is $4.51.

CommScope (NASDAQ:COMM) last released its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.38). The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.42 billion. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. CommScope’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 EPS. As a group, research analysts forecast that CommScope will post -0.77 EPS for the current year.

Hedge Funds Weigh In On CommScope

Several institutional investors and hedge funds have recently modified their holdings of COMM. Future Financial Wealth Managment LLC bought a new position in CommScope in the third quarter valued at approximately $31,000. National Bank of Canada FI raised its holdings in shares of CommScope by 109.1% during the third quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock worth $33,000 after acquiring an additional 2,857 shares during the period. Quarry LP lifted its position in CommScope by 1,005.4% in the 3rd quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock valued at $50,000 after acquiring an additional 7,380 shares in the last quarter. Belvedere Trading LLC acquired a new position in CommScope in the 3rd quarter worth $68,000. Finally, Creative Planning bought a new position in CommScope during the 3rd quarter worth about $73,000. 88.04% of the stock is currently owned by institutional investors and hedge funds.

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.