CommScope (NASDAQ:COMM) Downgraded by Wall Street Zen to Buy

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 report issued on Saturday.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley raised shares of CommScope from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $4.00 to $17.00 in a research note on Tuesday, August 5th. Raymond James Financial raised CommScope from an "underperform" rating to an "outperform" rating and set a $19.00 price objective on the stock in a research note on Tuesday, August 5th. Citigroup raised CommScope to an "outperform" rating in a research note on Monday, August 4th. Northland Capmk raised shares of CommScope from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 4th. Finally, Wolfe Research initiated coverage on CommScope in a research report on Monday, July 7th. They set a "peer perform" rating on the stock. 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. According to data from MarketBeat, CommScope currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.75.

CommScope Stock Performance

NASDAQ:COMM traded up $0.02 during trading hours on Friday, hitting $15.26. The company's stock had a trading volume of 5,444,954 shares, compared to its average volume of 6,074,224. The business's 50-day moving average is $8.23 and its two-hundred day moving average is $6.09. CommScope has a 52-week low of $2.89 and a 52-week high of $15.85. The company has a market capitalization of $3.38 billion, a PE ratio of 5.74, a PEG ratio of 0.55 and a beta of 2.38.

CommScope (NASDAQ:COMM - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The communications equipment provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.24 by $0.20. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.27 billion. CommScope had a net margin of 16.61% and a negative return on equity of 6.29%. The business's revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.34 EPS. As a group, analysts predict that CommScope will post -0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of CommScope in the 1st quarter valued at $143,000. KBC Group NV bought a new stake in shares of CommScope in the 1st quarter worth about $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of CommScope by 5.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,354 shares of the communications equipment provider's stock worth $632,000 after purchasing an additional 5,909 shares during the last quarter. Bank of New York Mellon Corp lifted its position in CommScope by 6.0% during the 1st quarter. Bank of New York Mellon Corp now owns 725,413 shares of the communications equipment provider's stock worth $3,852,000 after buying an additional 41,286 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in CommScope by 986.1% during the 4th quarter. Legal & General Group Plc now owns 204,549 shares of the communications equipment provider's stock worth $1,066,000 after buying an additional 185,716 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.