CommScope (NASDAQ:COMM) Hits New 1-Year High - Should You Buy?

Key Points

• CommScope's stock has reached a new 52-week high, trading at $16.12, significantly increasing from its previous close of $15.50 with a volume of over 1.5 million shares.
• Analysts have recently upgraded the stock, with Raymond James setting a target price of $19, while Bank of America raised its target to $20 and upgraded its rating to "buy."
• In its latest earnings report, CommScope reported $0.44 earnings per share, surpassing estimates, and generated $1.39 billion in revenue, which is a 31.7% increase year-over-year.

CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as $16.12 and last traded at $15.83, with a volume of 1541001 shares trading hands. The stock had previously closed at $15.50.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on COMM shares. Wall Street Zen lowered shares of CommScope from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Raymond James Financial upgraded shares of CommScope from an "underperform" rating to an "outperform" rating and set a $19.00 target price on the stock in a report on Tuesday, August 5th. Morgan Stanley upgraded shares of CommScope from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $4.00 to $17.00 in a report on Tuesday, August 5th. Wolfe Research started coverage on shares of CommScope in a research report on Monday, July 7th. They set a "peer perform" rating on the stock. Finally, Bank of America raised shares of CommScope from an "underperform" rating to a "buy" rating and increased their price objective for the stock from $4.00 to $20.00 in a research report on Thursday, August 7th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.75.

CommScope Stock Performance

The stock has a market cap of $3.42 billion, a PE ratio of 5.80, a price-to-earnings-growth ratio of 0.55 and a beta of 2.38. The company's 50 day simple moving average is $8.97 and its 200 day simple moving average is $6.39.

CommScope (NASDAQ:COMM - Get Free Report) last released its earnings results on Monday, August 4th. The communications equipment provider reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.20. CommScope had a net margin of 16.61% and a negative return on equity of 6.29%. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the firm earned $0.34 EPS. The company's revenue was up 31.7% compared to the same quarter last year. Equities research analysts expect that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Deutsche Bank AG boosted its holdings in CommScope by 8.2% in the 1st quarter. Deutsche Bank AG now owns 10,050,618 shares of the communications equipment provider's stock valued at $53,369,000 after purchasing an additional 761,605 shares during the period. Goldman Sachs Group Inc. raised its position in CommScope by 244.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,498,510 shares of the communications equipment provider's stock worth $50,437,000 after purchasing an additional 6,743,929 shares during the period. Apollo Management Holdings L.P. purchased a new position in CommScope in the 1st quarter worth $32,806,000. LMR Partners LLP purchased a new position in CommScope in the 4th quarter worth $14,328,000. Finally, Jacobs Levy Equity Management Inc. raised its position in CommScope by 27.2% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,705,120 shares of the communications equipment provider's stock worth $14,094,000 after purchasing an additional 579,114 shares during the period. 88.04% of the stock is owned by institutional investors.

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.

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