CommScope (NASDAQ:COMM) Hits New 1-Year High on Analyst Upgrade

CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $6.00 to $7.50. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. CommScope traded as high as $7.44 and last traded at $7.33, with a volume of 10820818 shares traded. The stock had previously closed at $6.46.

Separately, Wall Street Zen cut shares of CommScope from a "strong-buy" rating to a "buy" rating in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, CommScope presently has an average rating of "Hold" and an average price target of $4.88.

Institutional Investors Weigh In On CommScope

Hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its holdings in shares of CommScope by 244.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,498,510 shares of the communications equipment provider's stock valued at $50,437,000 after purchasing an additional 6,743,929 shares during the period. Apollo Management Holdings L.P. purchased a new position in CommScope during the first quarter valued at approximately $32,806,000. Deutsche Bank AG increased its stake in CommScope by 182.2% in the 4th quarter. Deutsche Bank AG now owns 9,289,013 shares of the communications equipment provider's stock valued at $48,396,000 after buying an additional 5,996,931 shares during the period. LMR Partners LLP purchased a new stake in CommScope in the 4th quarter worth approximately $14,328,000. Finally, Nuveen LLC acquired a new stake in shares of CommScope during the 1st quarter valued at $13,507,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

CommScope Price Performance

The firm has a market capitalization of $1.78 billion, a PE ratio of 3.00, a price-to-earnings-growth ratio of 0.33 and a beta of 2.29. The company has a fifty day moving average of $5.56 and a 200-day moving average of $5.26.

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

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.