CommScope (NASDAQ:COMM) Trading 7.3% Higher – What’s Next?

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) traded up 7.3% during mid-day trading on Tuesday . The stock traded as high as $5.37 and last traded at $5.28. 1,370,281 shares traded hands during trading, a decline of 61% from the average session volume of 3,544,274 shares. The stock had previously closed at $4.92.

Wall Street Analyst Weigh In

COMM has been the subject of a number of analyst reports. Morgan Stanley cut shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 target price for the company. in a research report on Tuesday, December 17th. Raymond James lowered CommScope from a “market perform” rating to an “underperform” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. upgraded shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $3.00.

CommScope Stock Up 6.9 %

The business has a 50 day moving average price of $5.21 and a 200 day moving average price of $4.51. The stock has a market cap of $1.14 billion, a PE ratio of -1.19 and a beta of 1.92.

CommScope (NASDAQ:COMM) last released its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.38). CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the company posted $0.10 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, research analysts predict that CommScope Holding Company, Inc. will post -0.77 earnings per share for the current fiscal year.

Institutional Trading of CommScope

A number of institutional investors have recently made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new position in shares of CommScope in the third quarter worth about $31,000. National Bank of Canada FI lifted its stake in CommScope by 109.1% in the 3rd quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock worth $33,000 after purchasing an additional 2,857 shares in the last quarter. Quarry LP increased its position in shares of CommScope by 1,005.4% during the 3rd quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock worth $50,000 after purchasing an additional 7,380 shares during the last quarter. Belvedere Trading LLC purchased a new stake in CommScope in the 3rd quarter valued at about $68,000. Finally, Creative Planning purchased a new position in CommScope during the third quarter worth about $73,000. 88.04% of the stock is owned by institutional investors and hedge funds.

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.