Wall Street Zen Upgrades CommScope (NASDAQ:COMM) to "Strong-Buy"

Key Points

• Wall Street Zen upgraded CommScope from a "buy" rating to a "strong-buy" rating, indicating increased confidence in the stock's performance.
• The company reported a 31.7% increase in revenue year-over-year, with earnings per share of $0.44, surpassing analyst expectations.
• CommScope has seen recent upgrades and evaluations from several analysts, resulting in a consensus rating of "Moderate Buy" and an average target price of $14.75.

CommScope (NASDAQ:COMM - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued on Saturday.

Other analysts also recently issued research reports about the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of CommScope in a report on Wednesday. Northland Securities set a $20.00 target price on shares of CommScope in a report on Tuesday, August 5th. Raymond James Financial upgraded shares of CommScope from an "underperform" rating to an "outperform" rating and set a $19.00 price target for the company in a research note on Tuesday, August 5th. Wolfe Research started coverage on shares of CommScope in a research note on Monday, July 7th. They issued a "peer perform" rating for the company. Finally, Morgan Stanley upgraded shares of CommScope from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $4.00 to $17.00 in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $14.75.

CommScope Stock Performance

CommScope stock opened at $14.95 on Friday. CommScope has a fifty-two week low of $2.94 and a fifty-two week high of $17.13. The firm has a 50 day moving average price of $15.74 and a 200 day moving average price of $9.29. The company has a market capitalization of $3.31 billion, a PE ratio of 5.62, a price-to-earnings-growth ratio of 0.53 and a beta of 2.42.

CommScope (NASDAQ:COMM - Get Free Report) last posted its 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 firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm earned $0.34 EPS. The firm's revenue for the quarter was up 31.7% on a year-over-year basis. As a group, equities research analysts forecast that CommScope will post -0.24 earnings per share for the current year.

Institutional Investors Weigh In On CommScope

Institutional investors have recently modified their holdings of the company. Banque Transatlantique SA purchased a new stake in shares of CommScope during the 1st quarter worth $34,000. West Michigan Advisors LLC purchased a new stake in shares of CommScope during the 2nd quarter worth $83,000. Caliber Wealth Management LLC KS purchased a new stake in shares of CommScope during the 1st quarter worth $57,000. CWM LLC lifted its position in shares of CommScope by 236.5% during the 2nd quarter. CWM LLC now owns 11,156 shares of the communications equipment provider's stock worth $92,000 after purchasing an additional 7,841 shares during the last quarter. Finally, KBC Group NV purchased a new stake in shares of CommScope during the 1st quarter worth $65,000. 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.

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