CommScope (NASDAQ:COMM) Raised 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.

CommScope (NASDAQ:COMM - Get Free Report) was upgraded by equities research analysts at Northland Securities from a "market perform" rating to an "outperform" rating in a note issued to investors on Monday,Briefing.com Automated Import reports. The firm currently has a $12.00 price objective on the communications equipment provider's stock. Northland Securities' price objective indicates a potential downside of 12.92% from the stock's previous close.

Several other equities analysts also recently commented on COMM. Wall Street Zen downgraded shares of CommScope from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, May 13th. 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 report on Tuesday, June 24th. Finally, Wolfe Research assumed coverage on shares of CommScope in a report on Monday, July 7th. They issued a "peer perform" rating on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $7.38.

CommScope Stock Up 76.9%

CommScope stock opened at $13.78 on Monday. CommScope has a 52 week low of $1.93 and a 52 week high of $13.83. The company's 50 day moving average price is $7.16 and its two-hundred day moving average price is $5.70. The stock has a market cap of $2.98 billion, a P/E ratio of 5.12, a P/E/G ratio of 0.23 and a beta of 2.38.

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

Institutional Trading of CommScope

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COMM. Nisa Investment Advisors LLC grew its position in shares of CommScope by 14.1% in the second quarter. Nisa Investment Advisors LLC now owns 14,121 shares of the communications equipment provider's stock valued at $117,000 after purchasing an additional 1,748 shares during the period. Tower Research Capital LLC TRC grew its position 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 during the period. US Bancorp DE lifted its stake in shares of CommScope by 27.0% in the first quarter. US Bancorp DE now owns 20,404 shares of the communications equipment provider's stock worth $108,000 after buying an additional 4,337 shares in the last quarter. Bayesian Capital Management LP lifted its stake in shares of CommScope by 25.6% in the fourth quarter. Bayesian Capital Management LP now owns 22,100 shares of the communications equipment provider's stock worth $115,000 after buying an additional 4,500 shares in the last quarter. Finally, 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 in the last quarter. 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.

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