CommScope (NASDAQ:COMM) Given New $12.00 Price Target at Deutsche Bank Aktiengesellschaft

CommScope (NASDAQ:COMMGet Rating) had its target price hoisted by Deutsche Bank Aktiengesellschaft from $9.00 to $12.00 in a research note issued to investors on Friday morning, The Fly reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the communications equipment provider’s stock.

Other research analysts have also issued reports about the company. Evercore ISI cut their price target on CommScope from $8.00 to $7.00 and set an in-line rating for the company in a report on Tuesday, June 28th. JPMorgan Chase & Co. lowered their price objective on CommScope from $9.00 to $7.00 and set a neutral rating on the stock in a research report on Thursday, July 14th. Raymond James cut CommScope from a market perform rating to an underperform rating in a research report on Monday, April 11th. Citigroup boosted their price objective on CommScope from $6.00 to $7.00 and gave the company a sell rating in a research report on Friday. Finally, Morgan Stanley cut CommScope from an overweight rating to an equal weight rating and boosted their price objective for the company from $9.00 to $11.00 in a research report on Friday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CommScope has an average rating of Hold and a consensus target price of $9.67.

CommScope Stock Down 1.3 %

Shares of COMM stock opened at $9.70 on Friday. CommScope has a 12 month low of $5.56 and a 12 month high of $16.74. The firm has a market cap of $2.01 billion, a PE ratio of -4.24, a price-to-earnings-growth ratio of 0.26 and a beta of 1.87. The stock has a 50 day moving average of $7.39 and a 200-day moving average of $7.75.

CommScope (NASDAQ:COMMGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The communications equipment provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.12. CommScope had a negative return on equity of 145.83% and a negative net margin of 4.65%. The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period in the previous year, the company earned $0.38 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts predict that CommScope will post 1.33 EPS for the current fiscal year.

Insider Activity

In other news, SVP Farid Firouzbakht purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, May 11th. The shares were acquired at an average price of $6.97 per share, with a total value of $69,700.00. Following the completion of the purchase, the senior vice president now directly owns 149,824 shares of the company’s stock, valued at approximately $1,044,273.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Charles L. Treadway bought 59,927 shares of the business’s stock in a transaction on Thursday, June 2nd. The shares were purchased at an average price of $8.34 per share, with a total value of $499,791.18. Following the completion of the purchase, the chief executive officer now owns 1,212,302 shares of the company’s stock, valued at approximately $10,110,598.68. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Farid Firouzbakht bought 10,000 shares of the business’s stock in a transaction on Wednesday, May 11th. The stock was bought at an average cost of $6.97 per share, for a total transaction of $69,700.00. Following the purchase, the senior vice president now directly owns 149,824 shares of the company’s stock, valued at approximately $1,044,273.28. The disclosure for this purchase can be found here. Insiders have bought 87,814 shares of company stock valued at $714,555 over the last 90 days. 2.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On CommScope

Hedge funds have recently added to or reduced their stakes in the stock. Ensign Peak Advisors Inc raised its position in shares of CommScope by 63.5% during the fourth quarter. Ensign Peak Advisors Inc now owns 30,150 shares of the communications equipment provider’s stock worth $333,000 after purchasing an additional 11,715 shares during the period. State of New Jersey Common Pension Fund D raised its holdings in CommScope by 64.3% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 290,147 shares of the communications equipment provider’s stock worth $3,203,000 after buying an additional 113,565 shares during the period. Virginia Retirement Systems ET AL lifted its stake in CommScope by 37.9% in the fourth quarter. Virginia Retirement Systems ET AL now owns 20,000 shares of the communications equipment provider’s stock valued at $221,000 after buying an additional 5,500 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of CommScope by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,172,135 shares of the communications equipment provider’s stock valued at $23,981,000 after buying an additional 69,527 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of CommScope by 35.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,602,954 shares of the communications equipment provider’s stock valued at $17,697,000 after buying an additional 420,354 shares during the period. Institutional investors and hedge funds own 92.71% of the company’s stock.

About CommScope

(Get Rating)

CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Outdoor Wireless Networks (OWN), Venue and Campus Networks (VCN), and Home Networks (Home). The Broadband segment provides converged cable access platforms, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products, and hardened closures to the telco and cable provider broadband market.

Recommended Stories

The Fly logo

Analyst Recommendations for CommScope (NASDAQ:COMM)

Receive News & Ratings for CommScope Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CommScope and related companies with MarketBeat.com's FREE daily email newsletter.