CommScope (NASDAQ:COMM) Shares Up 7.5% - Here's Why

CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report) shares were up 7.5% during trading on Thursday . The stock traded as high as $7.99 and last traded at $8.34. Approximately 779,879 shares traded hands during trading, a decline of 85% from the average daily volume of 5,111,531 shares. The stock had previously closed at $7.75.

Analyst Upgrades and Downgrades

A number of analysts have commented on COMM shares. Deutsche Bank Aktiengesellschaft lifted their target price on CommScope from $6.00 to $7.50 and gave the stock a "hold" rating in a report on Tuesday. Wall Street Zen cut CommScope from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $4.88.

CommScope Stock Up 0.1%

The company has a market cap of $1.78 billion, a PE ratio of 3.01, a PEG ratio of 0.31 and a beta of 2.29. The company's fifty day moving average is $5.46 and its 200-day moving average is $5.24.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of COMM. Aster Capital Management DIFC Ltd purchased a new stake in shares of CommScope during the 4th quarter valued at about $27,000. Banque Transatlantique SA bought a new stake in CommScope during the first quarter valued at approximately $34,000. Sterling Capital Management LLC increased its holdings in CommScope by 826.0% during the fourth quarter. Sterling Capital Management LLC now owns 6,760 shares of the communications equipment provider's stock valued at $35,000 after buying an additional 6,030 shares during the last quarter. Tower Research Capital LLC TRC raised 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 acquiring an additional 4,026 shares during the period. Finally, Sciencast Management LP bought a new position in CommScope in the fourth quarter worth approximately $56,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

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.