CommScope (NASDAQ:COMM) Shares Gap Up After Analyst Upgrade

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report) gapped up before the market opened on Tuesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $6.00 to $7.50. The stock had previously closed at $6.46, but opened at $6.85. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. CommScope shares last traded at $7.41, with a volume of 4,247,924 shares.

Separately, Wall Street Zen cut shares of CommScope from a "strong-buy" rating to a "buy" rating in a research note 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, the company has a consensus rating of "Hold" and an average target price of $4.88.

Institutional Investors Weigh In On CommScope

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COMM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of CommScope by 5.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,354 shares of the communications equipment provider's stock worth $632,000 after purchasing an additional 5,909 shares during the last quarter. Swiss National Bank purchased a new position in CommScope during the fourth quarter worth about $2,212,000. Arizona State Retirement System acquired a new stake in shares of CommScope during the fourth quarter valued at about $326,000. Amundi purchased a new stake in CommScope in the fourth quarter valued at approximately $137,000. Finally, Legal & General Group Plc raised its position in CommScope by 986.1% in the fourth quarter. Legal & General Group Plc now owns 204,549 shares of the communications equipment provider's stock valued at $1,066,000 after purchasing an additional 185,716 shares during the period. Institutional investors and hedge funds own 88.04% of the company's stock.

CommScope Price Performance

The business has a 50 day simple moving average of $5.28 and a 200 day simple moving average of $5.21. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 2.84, a PEG ratio of 0.26 and a beta of 2.29.

CommScope (NASDAQ:COMM - Get Free Report) last announced its earnings results on Thursday, May 1st. The communications equipment provider reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.07. CommScope had a negative return on equity of 4.51% and a net margin of 16.89%. The company had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same period last year, the business posted ($0.08) EPS. CommScope's revenue for the quarter was up 23.5% on a year-over-year basis. On average, equities research analysts predict 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.