CommScope (NASDAQ:COMM) Hits New 1-Year High - What's Next?

Key Points

• CommScope shares reached a new 52-week high of $16.83, closing trading at $16.57 with a volume of over 2 million shares exchanged.
• Analysts from Deutsche Bank and Bank of America have raised their price targets for CommScope, indicating a positive outlook with a consensus rating of "Moderate Buy" and an average target of $14.75.
• CommScope reported a significant quarterly earnings increase with EPS of $0.44, exceeding estimates, and demonstrating a year-over-year revenue growth of 31.7%.

CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $16.83 and last traded at $16.57, with a volume of 2131446 shares traded. The stock had previously closed at $16.20.

Wall Street Analyst Weigh In

Several research analysts have commented on COMM shares. Wolfe Research started coverage on CommScope in a research report on Monday, July 7th. They set a "peer perform" rating on the stock. Wall Street Zen lowered CommScope from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Northland Capmk raised CommScope from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft lifted their price target on CommScope from $6.00 to $7.50 and gave the stock a "hold" rating in a research report on Tuesday, June 24th. Finally, Citigroup raised CommScope to an "outperform" rating in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $14.75.

CommScope Stock Up 0.8%

The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 6.18, a price-to-earnings-growth ratio of 0.56 and a beta of 2.46. The company has a 50 day simple moving average of $12.57 and a 200 day simple moving average of $7.90.

CommScope (NASDAQ:COMM - Get Free Report) last announced its quarterly 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. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates 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 was up 31.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 earnings per share. On average, research analysts forecast that CommScope Holding Company, Inc. will post -0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On CommScope

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Banque Transatlantique SA acquired a new stake in shares of CommScope in the first quarter valued at about $34,000. Caliber Wealth Management LLC KS purchased a new position in CommScope in the first quarter valued at about $57,000. KBC Group NV purchased a new position in CommScope in the first quarter valued at about $65,000. West Michigan Advisors LLC purchased a new position in CommScope in the second quarter valued at about $83,000. Finally, GAMMA Investing LLC lifted its holdings in CommScope by 717.7% during the 1st quarter. GAMMA Investing LLC now owns 16,026 shares of the communications equipment provider's stock worth $85,000 after buying an additional 14,066 shares during the last quarter. 88.04% of the stock is currently owned by institutional investors and hedge funds.

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.