CommScope (NASDAQ:COMM) Raised to "Strong-Buy" at Northland Capmk

Key Points

• CommScope has been upgraded from a "hold" rating to a "strong-buy" rating by Northland Capital Markets, indicating increased investor confidence in the stock.
• The company's stock has seen significant growth, with an 86.3% increase and currently trades around $14.51, reflecting strong performance in the telecom industry.
• CommScope reported a 31.7% year-over-year revenue increase, achieving $1.39 billion in revenue for the last quarter, surpassing analyst expectations.

CommScope (NASDAQ:COMM - Get Free Report) was upgraded by equities research analysts at Northland Capmk from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Monday,Zacks.com reports.

COMM has been the topic of several other reports. Raymond James Financial raised CommScope from an "underperform" rating to an "outperform" rating and set a $19.00 target price on the stock in a report on Tuesday. Wolfe Research started coverage on shares of CommScope in a research report on Monday, July 7th. They set a "peer perform" rating on the stock. Northland Securities upgraded shares of CommScope from a "market perform" rating to an "outperform" rating and set a $12.00 price target for the company in a report on Monday. Deutsche Bank Aktiengesellschaft increased their target price on shares of CommScope from $6.00 to $7.50 and gave the stock a "hold" rating in a report on Tuesday, June 24th. Finally, Morgan Stanley raised shares of CommScope from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $4.00 to $17.00 in a research report on Tuesday. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, CommScope currently has an average rating of "Moderate Buy" and a consensus target price of $13.70.

CommScope Stock Down 2.2%

CommScope stock traded down $0.33 during mid-day trading on Monday, reaching $14.44. The company had a trading volume of 11,683,707 shares, compared to its average volume of 8,748,770. CommScope has a 52 week low of $2.09 and a 52 week high of $15.65. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of 5.43, a PEG ratio of 0.43 and a beta of 2.38. The company has a 50 day moving average of $7.51 and a 200-day moving average of $5.83.

CommScope (NASDAQ:COMM - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The communications equipment provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.20. The company had revenue of $1.39 billion during the quarter, compared to analysts' expectations of $1.27 billion. CommScope had a net margin of 16.61% and a negative return on equity of 6.29%. The business's revenue was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 EPS. On average, analysts predict that CommScope will post -0.24 earnings per share for the current fiscal year.

Institutional Trading of CommScope

Several large investors have recently modified their holdings of COMM. Wealth Enhancement Advisory Services LLC acquired a new stake in CommScope in the first quarter valued at approximately $143,000. KBC Group NV acquired a new stake in shares of CommScope during the first quarter worth $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of CommScope by 5.1% in 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 acquiring an additional 5,909 shares in the last quarter. Legal & General Group Plc lifted its stake 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 buying an additional 185,716 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in CommScope by 6.0% in the first quarter. Bank of New York Mellon Corp now owns 725,413 shares of the communications equipment provider's stock valued at $3,852,000 after purchasing an additional 41,286 shares in the last quarter. 88.04% of the stock is owned by institutional investors and hedge funds.

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.