CommScope (NASDAQ:COMM) Shares Gap Up – Still a Buy?

CommScope Holding Company, Inc. (NASDAQ:COMM) gapped up before the market opened on Wednesday . The stock had previously closed at $4.89, but opened at $5.85. CommScope shares last traded at $5.89, with a volume of 6,178,991 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on COMM. JPMorgan Chase & Co. raised shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a research report on Tuesday, January 14th. Raymond James downgraded CommScope from a “market perform” rating to an “underperform” rating in a research report on Monday, January 6th. Finally, Morgan Stanley cut shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price target on the stock. in a report on Tuesday, December 17th. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, CommScope has an average rating of “Hold” and a consensus price target of $3.00.

CommScope Stock Performance

The stock’s 50 day simple moving average is $5.26 and its 200-day simple moving average is $5.26. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -1.33, a price-to-earnings-growth ratio of 0.41 and a beta of 1.90.

CommScope (NASDAQ:COMM) last issued its earnings results on Wednesday, February 26th. The communications equipment provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. On average, analysts expect that CommScope Holding Company, Inc. will post -0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On CommScope

Hedge funds and other institutional investors have recently bought and sold shares of the business. Deutsche Bank AG raised its holdings in shares of CommScope by 182.2% during the fourth quarter. Deutsche Bank AG now owns 9,289,013 shares of the communications equipment provider’s stock worth $48,396,000 after purchasing an additional 5,996,931 shares during the last quarter. LMR Partners LLP purchased a new position in shares of CommScope during the 4th quarter valued at about $14,328,000. Monarch Alternative Capital LP purchased a new stake in shares of CommScope in the third quarter worth about $16,623,000. Hudson Bay Capital Management LP grew its holdings in CommScope by 150.1% during the fourth quarter. Hudson Bay Capital Management LP now owns 2,500,558 shares of the communications equipment provider’s stock worth $13,028,000 after acquiring an additional 1,500,558 shares during the period. Finally, Bank of Montreal Can purchased a new position in CommScope during the third quarter valued at approximately $7,023,000. Institutional investors and hedge funds own 88.04% of the company’s stock.

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.