Deutsche Bank Aktiengesellschaft Forecasts Strong Price Appreciation for CommScope (NASDAQ:COMM) Stock

CommScope (NASDAQ:COMM - Free Report) had its target price upped by Deutsche Bank Aktiengesellschaft from $6.00 to $7.50 in a research report report published on Tuesday,Benzinga reports. They currently have a hold rating on the communications equipment provider's stock.

Separately, Wall Street Zen lowered shares of CommScope from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $4.88.

CommScope Stock Performance

Shares of COMM traded down $0.11 during mid-day trading on Tuesday, reaching $8.09. 4,108,656 shares of the company's stock traded hands, compared to its average volume of 5,160,743. CommScope has a 12 month low of $1.05 and a 12 month high of $8.39. The stock has a market capitalization of $1.75 billion, a P/E ratio of 2.97, a price-to-earnings-growth ratio of 0.31 and a beta of 2.29. The business's 50-day moving average price is $5.46 and its 200-day moving average price is $5.24.

CommScope (NASDAQ:COMM - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.07. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.11 billion. CommScope had a negative return on equity of 4.51% and a net margin of 16.89%. The firm's quarterly revenue was up 23.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.08) EPS. Equities research analysts anticipate that CommScope will post -0.24 EPS for the current year.

Hedge Funds Weigh In On CommScope

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its holdings in shares of CommScope by 67.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider's stock valued at $52,000 after purchasing an additional 4,026 shares in the last quarter. US Bancorp DE raised its holdings in shares of CommScope by 27.0% during the 1st quarter. US Bancorp DE now owns 20,404 shares of the communications equipment provider's stock valued at $108,000 after purchasing an additional 4,337 shares in the last quarter. Bayesian Capital Management LP raised its stake in shares of CommScope by 25.6% in the 4th quarter. Bayesian Capital Management LP now owns 22,100 shares of the communications equipment provider's stock valued at $115,000 after acquiring an additional 4,500 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of CommScope by 7.9% in the first quarter. NewEdge Advisors LLC now owns 63,433 shares of the communications equipment provider's stock worth $337,000 after buying an additional 4,669 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in CommScope during the 4th quarter valued at approximately $27,000. Institutional investors and hedge funds own 88.04% of the company's stock.

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.