CommScope (NASDAQ:COMM) Rating Increased to Outperform at Northland Securities

Key Points

• CommScope has been upgraded from "market perform" to "outperform" by Northland Securities, which has set a price target of $12.00 for the stock.
• The company's shares have experienced a significant increase, up 76.9% recently, with a current market price of $13.78.
• CommScope reported a quarterly earnings of $0.14 EPS, exceeding analysts' expectations and indicating a 23.5% year-over-year revenue growth.

Northland Securities upgraded shares of CommScope (NASDAQ:COMM - Free Report) from a market perform rating to an outperform rating in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have $12.00 price objective on the communications equipment provider's stock.

A number of other equities research analysts have also commented on the stock. Wolfe Research started coverage on shares of CommScope in a report on Monday, July 7th. They set a "peer perform" rating on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of CommScope from $6.00 to $7.50 and gave the company a "hold" rating in a research note on Tuesday, June 24th. Finally, Wall Street Zen cut shares of CommScope from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, May 13th. Four 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 stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $14.75.

CommScope Stock Up 3.9%

COMM stock traded up $0.59 during midday trading on Monday, reaching $15.58. 11,571,269 shares of the company's stock traded hands, compared to its average volume of 6,077,479. The company has a 50-day simple moving average of $8.04 and a two-hundred day simple moving average of $6.02. CommScope has a 1-year low of $2.55 and a 1-year high of $15.74. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 5.86, a PEG ratio of 0.42 and a beta of 2.38.

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

Institutional Investors Weigh In On CommScope

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in CommScope by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 22,752,737 shares of the communications equipment provider's stock valued at $118,542,000 after acquiring an additional 694,363 shares during the last quarter. Deutsche Bank AG raised its position in shares of CommScope by 8.2% during 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 acquiring an additional 761,605 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of 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 valued at $50,437,000 after purchasing an additional 6,743,929 shares during the period. Apollo Management Holdings L.P. bought a new position in shares of CommScope in the 1st quarter worth $32,806,000. Finally, Geode Capital Management LLC boosted its position in shares of 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 worth $26,715,000 after purchasing an additional 14,576 shares during the last quarter. 88.04% of the stock is owned by institutional investors.

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.