Equities researchers at Morgan Stanley began coverage on shares of CommScope Holding Co. (NASDAQ:COMM) in a research report issued to clients and investors on Tuesday. The brokerage set an “equal weight” rating and a $35.00 price target on the stock. Morgan Stanley’s price objective would suggest a potential upside of 14.23% from the company’s previous close.
Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of CommScope Holding from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Tuesday, August 2nd. TheStreet raised shares of CommScope Holding from a “hold” rating to a “buy” rating in a report on Friday, July 29th. Credit Suisse Group AG reissued a “buy” rating on shares of CommScope Holding in a report on Friday, July 29th. Deutsche Bank AG decreased their price objective on shares of CommScope Holding from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, July 29th. Finally, BTIG Research initiated coverage on shares of CommScope Holding in a report on Friday, June 17th. They set a “buy” rating and a $41.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $33.93.
Shares of CommScope Holding (NASDAQ:COMM) opened at 30.64 on Tuesday. CommScope Holding has a one year low of $19.37 and a one year high of $33.54. The stock’s 50 day moving average is $29.46 and its 200-day moving average is $29.50. The firm’s market cap is $5.90 billion.
CommScope Holding (NASDAQ:COMM) last issued its earnings results on Thursday, July 28th. The company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.05. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. CommScope Holding had a negative net margin of 1.78% and a positive return on equity of 31.76%. The business’s quarterly revenue was up 50.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 earnings per share. Analysts anticipate that CommScope Holding will post $2.50 EPS for the current fiscal year.
In related news, major shareholder Group L.P. Carlyle sold 11,500,000 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $29.04, for a total transaction of $333,960,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Peter U. Karlsson sold 7,796 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $30.06, for a total transaction of $234,347.76. The disclosure for this sale can be found here. 4.09% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of COMM. Hunt Lane Capital LP bought a new position in shares of CommScope Holding during the first quarter valued at approximately $6,549,000. A.R.T. Advisors LLC bought a new position in shares of CommScope Holding during the first quarter valued at approximately $663,000. Bayesian Capital Management LP bought a new position in shares of CommScope Holding during the first quarter valued at approximately $244,000. FPR Partners LLC raised its position in shares of CommScope Holding by 12.8% in the first quarter. FPR Partners LLC now owns 10,133,917 shares of the company’s stock valued at $282,939,000 after buying an additional 1,147,834 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of CommScope Holding during the first quarter valued at approximately $3,579,000.
CommScope Holding Company Profile
CommScope Holding Company, Inc is provider of infrastructure solutions for wireless, business enterprise and residential broadband networks. The Company operates through four segments: Wireless, Enterprise, Broadband and Broadband Network Solutions (BNS). Its Wireless segment provides merchant RF wireless network connectivity solutions and cell distributed antenna systems (DAS) solutions to enable carriers’ second generation (2G), third generation (3G) and fourth generation (4G) networks.
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