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

CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report)'s stock price gapped up prior to trading 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 trading hands.

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

Institutional Investors Weigh In On CommScope

Institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers lifted its stake in shares of CommScope by 7.0% in the fourth quarter. Rhumbline Advisers now owns 361,637 shares of the communications equipment provider's stock valued at $1,884,000 after purchasing an additional 23,813 shares during the period. Versor Investments LP acquired a new stake in shares of CommScope during the 4th quarter valued at approximately $86,000. US Bancorp DE boosted its stake in shares of CommScope by 527.9% during the 4th quarter. US Bancorp DE now owns 16,067 shares of the communications equipment provider's stock worth $84,000 after acquiring an additional 13,508 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of CommScope during the 4th quarter worth approximately $60,000. Finally, Arizona State Retirement System acquired a new stake in shares of CommScope in the 4th quarter worth approximately $326,000. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

CommScope Trading Up 0.1%

The firm has a 50 day moving average of $5.46 and a two-hundred day moving average of $5.24. The stock has a market capitalization of $1.78 billion, a PE ratio of 3.01, a P/E/G ratio of 0.31 and a beta of 2.29.

CommScope (NASDAQ:COMM - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The communications equipment provider reported $0.14 earnings per share 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 business had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter last year, the business posted ($0.08) earnings per share. The business's revenue for the quarter was up 23.5% on a year-over-year basis. Equities research analysts forecast 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.