CommScope (NASDAQ:COMM) Sets New 12-Month High - Time to Buy?

Key Points

• CommScope stock reached a new 52-week high of $16.98, indicating strong trading activity with over 1.2 million shares exchanged.
• Equities analysts upgraded CommScope’s stock ratings, with Northland Capital raising it to a "strong-buy" and Raymond James setting a price target of $19.00.
• The company posted impressive earnings results, reporting $0.44 EPS and revenue of $1.39 billion, significantly above analysts' expectations.

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report) reached a new 52-week high during trading on Friday . The company traded as high as $16.98 and last traded at $16.77, with a volume of 1274625 shares. The stock had previously closed at $16.54.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on COMM shares. Bank of America raised shares of CommScope from an "underperform" rating to a "buy" rating and boosted their price target for the stock from $4.00 to $20.00 in a research note on Thursday, August 7th. Northland Capmk raised shares of CommScope from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. Wolfe Research started coverage on shares of CommScope in a research note on Monday, July 7th. They issued a "peer perform" rating for the company. Citigroup raised shares of CommScope to an "outperform" rating in a research note on Monday, August 4th. Finally, Raymond James Financial raised shares of CommScope from an "underperform" rating to an "outperform" rating and set a $19.00 price target for the company in a research note on Tuesday, August 5th. One 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 stock has an average rating of "Moderate Buy" and a consensus target price of $14.75.

CommScope Trading Down 1.9%

The stock has a market capitalization of $3.69 billion, a P/E ratio of 6.27, a price-to-earnings-growth ratio of 0.57 and a beta of 2.46. The stock's fifty day moving average price is $13.61 and its two-hundred day moving average price is $8.34.

CommScope (NASDAQ:COMM - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The communications equipment provider reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.20. The firm had revenue of $1.39 billion during 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 quarterly revenue was up 31.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.34 EPS. As a group, analysts expect that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CommScope

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Banque Transatlantique SA bought a new stake in CommScope during the 1st quarter valued at $34,000. Caliber Wealth Management LLC KS bought a new stake in CommScope during the 1st quarter valued at $57,000. KBC Group NV bought a new stake in CommScope during the 1st quarter valued at $65,000. West Michigan Advisors LLC bought a new stake in CommScope during the 2nd quarter valued at $83,000. Finally, GAMMA Investing LLC raised its holdings in CommScope by 717.7% during the 1st quarter. GAMMA Investing LLC now owns 16,026 shares of the communications equipment provider's stock valued at $85,000 after buying an additional 14,066 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.