CommScope (NASDAQ:COMM) Reaches New 52-Week High at $4.50

CommScope Holding Company, Inc. (NASDAQ:COMM) hit a new 52-week high during trading on Monday . The company traded as high as $4.50 and last traded at $4.49, with a volume of 4920238 shares. The stock had previously closed at $4.07.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Northland Securities boosted their price objective on shares of CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a research report on Monday, August 12th. StockNews.com upgraded CommScope from a “sell” rating to a “hold” rating in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on CommScope from $1.25 to $2.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $1.75.

CommScope Price Performance

The stock has a 50-day simple moving average of $2.87 and a 200-day simple moving average of $1.81. The stock has a market cap of $1.11 billion, a PE ratio of -0.58, a P/E/G ratio of 0.18 and a beta of 2.07.

CommScope (NASDAQ:COMM) last posted its earnings results on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.23 billion. CommScope had a negative return on equity of 3.08% and a negative net margin of 31.24%. The firm’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same period last year, the company posted $0.14 EPS. As a group, equities research analysts anticipate that CommScope Holding Company, Inc. will post 0.91 EPS for the current year.

Institutional Investors Weigh In On CommScope

Institutional investors and hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC raised its stake in shares of CommScope by 357.9% during the first quarter. Headlands Technologies LLC now owns 23,953 shares of the communications equipment provider’s stock valued at $31,000 after purchasing an additional 18,722 shares during the period. Allspring Global Investments Holdings LLC boosted its position in CommScope by 5,083.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider’s stock valued at $34,000 after buying an additional 25,212 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of CommScope by 22.0% during the fourth quarter. Victory Capital Management Inc. now owns 27,568 shares of the communications equipment provider’s stock valued at $78,000 after acquiring an additional 4,978 shares in the last quarter. RPO LLC purchased a new stake in shares of CommScope during the fourth quarter worth about $92,000. Finally, Quadrature Capital Ltd acquired a new position in shares of CommScope in the fourth quarter worth about $198,000. 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.