CommScope (NASDAQ:COMM) Raised to "Buy" at Bank of America

Key Points

• CommScope has been upgraded by Bank of America from an "underperform" rating to a "buy" rating, with a price target of $20.00, representing a potential upside of 38.50% from its previous close.
• Several analysts have issued positive ratings and price targets for CommScope, with Morgan Stanley and Raymond James also upgrading their ratings and adjusting price objectives significantly.
• CommScope reported strong quarterly earnings with an EPS of $0.44, beating expectations, and showed a 31.7% year-over-year revenue increase to $1.39 billion.

Bank of America upgraded shares of CommScope (NASDAQ:COMM - Free Report) from an underperform rating to a buy rating in a research report released on Thursday morning, MarketBeat Ratings reports. They currently have $20.00 target price on the communications equipment provider's stock, up from their previous target price of $4.00.

COMM has been the subject of a number of other research reports. Citigroup upgraded CommScope to an "outperform" rating in a report on Monday, August 4th. Northland Capmk upgraded CommScope from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. Wall Street Zen downgraded CommScope from a "strong-buy" rating to a "buy" rating in a report on Tuesday, May 13th. Wolfe Research initiated coverage on CommScope in a research note on Monday, July 7th. They issued a "peer perform" rating on the stock. Finally, Raymond James Financial upgraded CommScope from an "underperform" rating to an "outperform" rating and set a $19.00 price target for the company in a report on Tuesday, August 5th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $14.75.

CommScope Trading Down 0.6%

COMM stock traded down $0.10 during midday trading on Thursday, hitting $15.49. The company had a trading volume of 3,057,124 shares, compared to its average volume of 6,057,205. CommScope has a 52 week low of $2.79 and a 52 week high of $15.85. The stock's 50 day moving average price is $8.04 and its 200 day moving average price is $6.03. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 5.81, a PEG ratio of 0.55 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, beating analysts' consensus estimates of $0.24 by $0.20. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.27 billion. CommScope had a negative return on equity of 6.29% and a net margin of 16.61%. The firm's revenue for the quarter was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 earnings per share. Analysts predict that CommScope will post -0.24 earnings per share for the current year.

Institutional Investors Weigh In On CommScope

Large investors have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd bought a new stake in shares of CommScope during the 4th quarter valued at about $27,000. Banque Transatlantique SA bought a new stake in shares of CommScope during the 1st quarter valued at about $34,000. Sterling Capital Management LLC grew its stake in shares of CommScope by 826.0% during the 4th quarter. Sterling Capital Management LLC now owns 6,760 shares of the communications equipment provider's stock valued at $35,000 after purchasing an additional 6,030 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of CommScope by 67.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider's stock valued at $52,000 after acquiring an additional 4,026 shares during the period. Finally, Caliber Wealth Management LLC KS bought a new position in shares of CommScope during the 1st quarter valued at approximately $57,000. 88.04% of the stock is currently 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.