CommScope (NASDAQ:COMM) Lowered to "Buy" Rating by Wall Street Zen

Key Points

• CommScope has been downgraded by Wall Street Zen from a "strong-buy" to a "buy" rating, indicating a more cautious outlook for the stock.
• Multiple analysts have recently updated their ratings and price targets for CommScope, with a consensus average rating of "Moderate Buy" and an average price target of $14.75.
• CommScope reported earnings of $0.44 per share, exceeding estimates, along with a revenue increase of 31.7% year-over-year, signaling a strong quarterly performance.

CommScope (NASDAQ:COMM - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.

Several other research analysts also recently issued reports on COMM. Morgan Stanley upgraded shares of CommScope from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $4.00 to $17.00 in a report on Tuesday, August 5th. Citigroup upgraded shares of CommScope to an "outperform" rating in a report on Monday, August 4th. Deutsche Bank Aktiengesellschaft upped their price target on shares of CommScope from $6.00 to $7.50 and gave the stock a "hold" rating in a report on Tuesday, June 24th. Northland Capmk upgraded shares of CommScope from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. Finally, Raymond James Financial upgraded shares of CommScope from an "underperform" rating to an "outperform" rating and set a $19.00 price target for the company in a report on Tuesday, August 5th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, CommScope presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.75.

CommScope Price Performance

COMM traded down $0.25 during trading on Friday, hitting $15.01. 2,501,203 shares of the stock traded hands, compared to its average volume of 6,060,266. CommScope has a twelve month low of $2.94 and a twelve month high of $15.85. The company has a market cap of $3.32 billion, a price-to-earnings ratio of 5.65, a PEG ratio of 0.54 and a beta of 2.38. The business has a 50 day moving average price of $8.41 and a 200 day moving average price of $6.16.

CommScope (NASDAQ:COMM - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The communications equipment provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.24 by $0.20. CommScope had a net margin of 16.61% and a negative return on equity of 6.29%. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the business earned $0.34 earnings per share. The company's revenue was up 31.7% on a year-over-year basis. On average, equities research analysts predict that CommScope will post -0.24 earnings per share for the current year.

Institutional Trading of CommScope

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in CommScope during the 4th quarter worth about $138,000. Pictet Asset Management Holding SA bought a new position in shares of CommScope during the 4th quarter worth about $171,000. Franklin Resources Inc. boosted its position in shares of CommScope by 73.7% during the 4th quarter. Franklin Resources Inc. now owns 233,884 shares of the communications equipment provider's stock worth $1,219,000 after purchasing an additional 99,238 shares in the last quarter. Geode Capital Management LLC lifted its position in CommScope by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 5,126,442 shares of the communications equipment provider's stock valued at $26,715,000 after acquiring an additional 14,576 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in CommScope by 23.8% in the 4th quarter. Wells Fargo & Company MN now owns 135,532 shares of the communications equipment provider's stock valued at $706,000 after acquiring an additional 26,016 shares in the last quarter. 88.04% of the stock is currently owned by institutional investors and hedge funds.

About CommScope

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.