CommScope (NASDAQ:COMM) Hits New 1-Year High - Here's Why

CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $8.58 and last traded at $8.28, with a volume of 7820614 shares changing hands. The stock had previously closed at $8.20.

Wall Street Analyst Weigh In

Several brokerages have 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 boosted their price target on shares of CommScope from $6.00 to $7.50 and gave the company a "hold" rating in a research report on Tuesday, June 24th. Two research 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 stock has an average rating of "Hold" and a consensus price target of $4.88.

CommScope Stock Up 4.6%

The stock has a fifty day moving average of $5.95 and a 200-day moving average of $5.33. The firm has a market capitalization of $1.88 billion, a P/E ratio of 3.18, a PEG ratio of 0.35 and a beta of 2.38.

CommScope (NASDAQ:COMM - Get Free Report) last announced its 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 for the quarter, compared to analyst estimates of $1.11 billion. CommScope had a net margin of 16.89% and a negative return on equity of 4.51%. CommScope's quarterly revenue was up 23.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.08) earnings per share. As a group, analysts forecast that CommScope Holding Company, Inc. will post -0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. US Bancorp DE lifted its stake in CommScope by 527.9% in the fourth quarter. US Bancorp DE now owns 16,067 shares of the communications equipment provider's stock valued at $84,000 after buying an additional 13,508 shares during the period. Jones Financial Companies Lllp acquired a new position in CommScope in the 4th quarter worth $60,000. Arizona State Retirement System acquired a new position in shares of CommScope during the fourth quarter worth about $326,000. Raymond James Financial Inc. bought a new position in shares of CommScope during the 4th quarter worth approximately $138,000. Finally, Inceptionr LLC bought a new position in CommScope in the fourth quarter valued at $97,000. Institutional investors 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.