CommScope (NASDAQ:COMM) Sets New 1-Year High - Time to Buy?

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 hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $16.83 and last traded at $16.57, with a volume of 2131446 shares changing hands. The stock had previously closed at $16.20.

Wall Street Analyst Weigh In

COMM has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of CommScope from $6.00 to $7.50 and gave the company a "hold" rating in a report on Tuesday, June 24th. Raymond James Financial raised shares of CommScope from an "underperform" rating to an "outperform" rating and set a $19.00 price objective for the company in a report on Tuesday, August 5th. Wolfe Research initiated coverage on shares of CommScope in a report on Monday, July 7th. They set a "peer perform" rating for the company. Bank of America raised shares of CommScope from an "underperform" rating to a "buy" rating and increased their price objective for the company from $4.00 to $20.00 in a report on Thursday, August 7th. Finally, Northland Capmk raised shares of CommScope from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $14.75.

CommScope Stock Up 1.1%

The business's fifty day moving average is $12.10 and its two-hundred day moving average is $7.66. The stock has a market capitalization of $3.63 billion, a PE ratio of 6.15, a price-to-earnings-growth ratio of 0.56 and a beta of 2.47.

CommScope (NASDAQ:COMM - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The communications equipment provider reported $0.44 earnings per share (EPS) for the quarter, topping 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%.CommScope's revenue was up 31.7% on a year-over-year basis. During the same period last year, the company earned $0.34 earnings per share. Sell-side analysts expect that CommScope Holding Company, Inc. will post -0.24 EPS for the current fiscal year.

Institutional Trading of CommScope

A number of institutional investors have recently bought and sold shares of COMM. Raymond James Financial Inc. bought a new stake in CommScope in the fourth quarter worth $138,000. Tower Research Capital LLC TRC lifted its position in 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 worth $52,000 after buying an additional 4,026 shares during the last quarter. Northern Trust Corp lifted its position in shares of CommScope by 13.7% during the fourth quarter. Northern Trust Corp now owns 2,087,160 shares of the communications equipment provider's stock worth $10,874,000 after purchasing an additional 250,761 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its position in shares of CommScope by 85.6% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 25,107 shares of the communications equipment provider's stock worth $131,000 after purchasing an additional 11,577 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of CommScope by 182.2% during the fourth quarter. Deutsche Bank AG now owns 9,289,013 shares of the communications equipment provider's stock valued at $48,396,000 after purchasing an additional 5,996,931 shares during the period. 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.

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