CommScope (NASDAQ:COMM) Hits New 12-Month High - Still a Buy?

Key Points

• CommScope's stock reached a new 52-week high of $15.78, reflecting a notable trading volume of 30,418 shares and showing strong market activity.
• Analysts have significantly increased their ratings and price targets for CommScope, with Bank of America raising its target from $4.00 to $20.00 and others projecting an average target of $14.75.
• The company reported strong quarterly results, with an earnings per share of $0.44, exceeding estimates, and demonstrated a 31.7% increase in revenue compared to the prior year.

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $15.76 and last traded at $15.78, with a volume of 30418 shares. The stock had previously closed at $15.58.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Citigroup upgraded CommScope to an "outperform" rating in a report on Monday, August 4th. Northland Securities set a $20.00 target price on CommScope in a research note on Tuesday, August 5th. Bank of America raised CommScope from an "underperform" rating to a "buy" rating and increased their target price for the company from $4.00 to $20.00 in a research note on Thursday, August 7th. Wall Street Zen lowered CommScope from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Finally, Morgan Stanley raised CommScope from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $4.00 to $17.00 in a research note on Tuesday, August 5th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $14.75.

CommScope Price Performance

The company has a market cap of $3.32 billion, a price-to-earnings ratio of 5.63, a price-to-earnings-growth ratio of 0.54 and a beta of 2.38. The stock 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 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 company 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 was up 31.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 earnings per share. Sell-side analysts expect that CommScope Holding Company, Inc. will post -0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On CommScope

A number of hedge funds have recently modified their holdings of COMM. Franklin Resources Inc. raised its position in CommScope by 73.7% in the 4th quarter. Franklin Resources Inc. now owns 233,884 shares of the communications equipment provider's stock valued at $1,219,000 after buying an additional 99,238 shares during the last quarter. Geode Capital Management LLC raised 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 buying an additional 14,576 shares during the last quarter. Wells Fargo & Company MN raised 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 buying an additional 26,016 shares during the last quarter. Legal & General Group Plc raised 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. Finally, Advisory Services Network LLC acquired a new stake in CommScope in the 4th quarter valued at approximately $109,000. Institutional investors and hedge funds own 88.04% of the company's stock.

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.