CommScope (NASDAQ:COMM) Rating Increased 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 Northland Capmk from a "hold" rating to a "strong-buy" rating in a report issued on Monday,Zacks.com reports.

Several other research firms have also recently weighed in on COMM. Deutsche Bank Aktiengesellschaft increased their price target on shares of CommScope from $6.00 to $7.50 and gave the company a "hold" rating in a research note on Tuesday, June 24th. Morgan Stanley raised shares of CommScope from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $4.00 to $17.00 in a research report on Tuesday. Wolfe Research began coverage on shares of CommScope in a research report on Monday, July 7th. They issued a "peer perform" rating for the company. Northland Securities raised shares of CommScope from a "market perform" rating to an "outperform" rating and set a $12.00 price target for the company in a research report on Monday, August 4th. Finally, Wall Street Zen cut shares of CommScope from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, May 13th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.75.

CommScope Stock Up 3.9%

COMM traded up $0.59 during trading on Monday, reaching $15.58. The company's stock had a trading volume of 11,571,269 shares, compared to its average volume of 9,514,530. The firm has a fifty day simple moving average of $8.04 and a two-hundred day simple moving average of $6.02. CommScope has a 1 year low of $2.55 and a 1 year high of $15.74. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 5.86, a PEG ratio of 0.44 and a beta of 2.38.

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

Institutional Trading of CommScope

Hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new stake in CommScope in the 1st quarter valued at about $143,000. KBC Group NV bought a new stake in CommScope in the 1st quarter valued at about $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in 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 valued at $632,000 after purchasing an additional 5,909 shares during the last quarter. Legal & General Group Plc lifted its position in CommScope by 986.1% in the 4th 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 last quarter. Finally, Bank of New York Mellon Corp lifted its position in CommScope by 6.0% in the 1st 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 during the last quarter. 88.04% of the stock is currently owned by institutional investors.

About CommScope

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.