BidaskClub cut shares of Commscope (NASDAQ:COMM) from a strong-buy rating to a buy rating in a research report report published on Wednesday, December 20th.
A number of other equities analysts have also recently issued reports on the company. Jefferies Group reissued a buy rating and issued a $40.00 target price on shares of Commscope in a report on Thursday, October 12th. ValuEngine lowered Commscope from a buy rating to a hold rating in a research report on Saturday, November 4th. Zacks Investment Research lowered Commscope from a buy rating to a hold rating in a research report on Tuesday, November 7th. Northland Securities restated a hold rating on shares of Commscope in a research report on Friday, November 10th. Finally, Citigroup increased their price target on Commscope from $39.00 to $40.00 and gave the stock a buy rating in a research report on Thursday, November 2nd. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $40.80.
Shares of Commscope (NASDAQ:COMM) traded up $0.63 on Wednesday, hitting $38.84. The stock had a trading volume of 2,242,258 shares, compared to its average volume of 1,470,000. Commscope has a fifty-two week low of $30.95 and a fifty-two week high of $42.75. The company has a debt-to-equity ratio of 2.93, a quick ratio of 2.10 and a current ratio of 2.78. The firm has a market cap of $7,410.00, a PE ratio of 39.23, a PEG ratio of 2.49 and a beta of 1.20.
In other Commscope news, insider Marvin S. Edwards, Jr. sold 50,000 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $38.66, for a total value of $1,933,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frank M. Drendel sold 60,000 shares of the stock in a transaction on Monday, December 11th. The shares were sold at an average price of $38.01, for a total value of $2,280,600.00. The disclosure for this sale can be found here. Insiders sold a total of 180,284 shares of company stock worth $6,807,245 over the last quarter. Corporate insiders own 3.33% of the company’s stock.
Several hedge funds have recently bought and sold shares of COMM. Capital Research Global Investors lifted its stake in shares of Commscope by 478.2% in the 2nd quarter. Capital Research Global Investors now owns 14,502,567 shares of the communications equipment provider’s stock valued at $551,533,000 after purchasing an additional 11,994,126 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Commscope in the 2nd quarter valued at $128,505,000. JPMorgan Chase & Co. lifted its stake in shares of Commscope by 54.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,307,534 shares of the communications equipment provider’s stock valued at $315,936,000 after purchasing an additional 2,930,632 shares during the period. BlackRock Inc. lifted its stake in shares of Commscope by 19.0% in the 2nd quarter. BlackRock Inc. now owns 15,275,547 shares of the communications equipment provider’s stock valued at $580,929,000 after purchasing an additional 2,438,894 shares during the period. Finally, Harris Associates L P lifted its stake in shares of Commscope by 58.6% in the 2nd quarter. Harris Associates L P now owns 6,390,730 shares of the communications equipment provider’s stock valued at $243,039,000 after purchasing an additional 2,361,663 shares during the period.
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Commscope Company Profile
CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.
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