CommScope (NASDAQ:COMM) Shares Up 6.1% – Still a Buy?

CommScope Holding Company, Inc. (NASDAQ:COMM)’s share price shot up 6.1% on Wednesday . The company traded as high as $5.20 and last traded at $5.08. 366,625 shares were traded during mid-day trading, a decline of 91% from the average session volume of 4,157,017 shares. The stock had previously closed at $4.79.

Analyst Ratings Changes

A number of brokerages recently weighed in on COMM. StockNews.com raised shares of CommScope from a “sell” rating to a “hold” rating in a report on Thursday, August 15th. Morgan Stanley raised their price target on shares of CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Finally, Northland Securities raised their price objective on shares of CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a research note on Monday, August 12th. Two analysts have rated the stock with a sell rating and four have assigned a hold 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 $2.50.

CommScope Price Performance

The stock has a market capitalization of $1.14 billion, a P/E ratio of -1.17 and a beta of 1.95. The business’s 50 day simple moving average is $5.64 and its 200-day simple moving average is $3.67.

CommScope (NASDAQ:COMM) last announced 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). The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.42 billion. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 earnings per share. Research analysts anticipate that CommScope Holding Company, Inc. will post -0.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CommScope

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. National Bank of Canada FI lifted its position 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 valued at $33,000 after acquiring an additional 2,857 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in CommScope by 5.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 86,509 shares of the communications equipment provider’s stock valued at $106,000 after acquiring an additional 4,466 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in CommScope in the 3rd quarter valued at $31,000. Quarry LP lifted its position in CommScope by 1,005.4% in the 3rd quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock valued at $50,000 after acquiring an additional 7,380 shares in the last quarter. Finally, Belvedere Trading LLC bought a new stake in CommScope in the 3rd quarter valued at $68,000. 88.04% of the stock is owned by institutional investors.

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.