CommScope (NASDAQ:COMM) Sets New 52-Week High on Analyst Upgrade

CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report)'s share price reached a new 52-week high 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 changing hands. 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 issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $4.88.

Institutional Trading of CommScope

Several hedge funds have recently added to or reduced their stakes in COMM. Goldman Sachs Group Inc. raised its position in CommScope by 244.8% in the first quarter. Goldman Sachs Group Inc. now owns 9,498,510 shares of the communications equipment provider's stock worth $50,437,000 after acquiring an additional 6,743,929 shares during the period. Apollo Management Holdings L.P. bought a new stake in CommScope in the first quarter worth about $32,806,000. Deutsche Bank AG raised its position in CommScope by 182.2% in the fourth quarter. Deutsche Bank AG now owns 9,289,013 shares of the communications equipment provider's stock worth $48,396,000 after acquiring an additional 5,996,931 shares during the period. LMR Partners LLP bought a new stake in CommScope in the fourth quarter worth about $14,328,000. Finally, Nuveen LLC bought a new stake in CommScope in the first quarter worth about $13,507,000. Institutional investors own 88.04% of the company's stock.

CommScope Stock Up 13.5%

The firm has a market cap of $1.59 billion, a P/E ratio of 2.68, a price-to-earnings-growth ratio of 0.26 and a beta of 2.29. The firm's 50-day simple moving average is $5.28 and its 200 day simple moving average is $5.21.

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

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