CommScope (NASDAQ:COMM) Price Target Raised to $5.00

CommScope (NASDAQ:COMM) had its price objective increased by Morgan Stanley from $2.70 to $5.00 in a research note published on Monday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the communications equipment provider’s stock.

A number of other brokerages have also commented on COMM. Northland Securities lifted their price target on CommScope from $1.25 to $2.00 and gave the stock a “market perform” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft lifted their target price on CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Finally, StockNews.com upgraded shares of CommScope from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Two equities research 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, CommScope has a consensus rating of “Hold” and a consensus price target of $2.50.

CommScope Price Performance

Shares of COMM stock opened at $6.95 on Monday. CommScope has a one year low of $0.86 and a one year high of $7.19. The company has a market cap of $1.50 billion, a P/E ratio of -0.85, a P/E/G ratio of 0.30 and a beta of 2.09. The firm has a 50-day moving average of $5.76 and a 200-day moving average of $3.17.

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

Institutional Investors Weigh In On CommScope

Several large investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC boosted its position in CommScope by 357.9% during the first quarter. Headlands Technologies LLC now owns 23,953 shares of the communications equipment provider’s stock worth $31,000 after purchasing an additional 18,722 shares during the period. Future Financial Wealth Managment LLC bought a new position in CommScope in the 3rd quarter worth approximately $31,000. Allspring Global Investments Holdings LLC grew its stake 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 in the last quarter. Belvedere Trading LLC bought a new stake in CommScope during the 3rd quarter valued at $68,000. Finally, Creative Planning purchased a new stake in shares of CommScope during the third quarter worth $73,000. 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.