CommScope (NASDAQ:COMM) Sets New 12-Month High - Time to 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 share price reached a new 52-week high during trading on Monday . The stock traded as high as $16.12 and last traded at $15.83, with a volume of 1541001 shares changing hands. The stock had previously closed at $15.50.

Analyst Ratings Changes

COMM has been the subject of several recent research reports. Wall Street Zen cut CommScope from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Citigroup raised CommScope to an "outperform" rating in a report on Monday, August 4th. Raymond James Financial raised 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. Northland Capmk raised CommScope from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. Finally, Bank of America raised CommScope from an "underperform" rating to a "buy" rating and increased their target price for the stock from $4.00 to $20.00 in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $14.75.

CommScope Stock Performance

The firm has a market capitalization of $3.46 billion, a P/E ratio of 5.87, a price-to-earnings-growth ratio of 0.55 and a beta of 2.38. The stock has a 50-day moving average of $9.92 and a 200 day moving average of $6.73.

CommScope (NASDAQ:COMM - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The communications equipment provider reported $0.44 EPS for the quarter, topping analysts' consensus estimates 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 negative return on equity of 6.29% and a net margin of 16.61%.CommScope's revenue for the quarter was up 31.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.34 EPS. On average, equities analysts predict that CommScope Holding Company, Inc. will post -0.24 EPS for the current year.

Institutional Investors Weigh In On CommScope

A number of large investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC bought a new position in CommScope in the 1st quarter valued at $143,000. KBC Group NV bought a new position in CommScope in the 1st quarter valued at $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 valued at $632,000 after buying an additional 5,909 shares during the last quarter. Bank of New York Mellon Corp boosted its position in CommScope by 6.0% in the 1st quarter. Bank of New York Mellon Corp now owns 725,413 shares of the communications equipment provider's stock valued at $3,852,000 after buying an additional 41,286 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in CommScope by 986.1% in the 4th quarter. Legal & General Group Plc now owns 204,549 shares of the communications equipment provider's stock valued at $1,066,000 after buying an additional 185,716 shares during the last quarter. 88.04% of the stock is currently 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.