Deutsche Bank AG restated their buy rating on shares of CommScope Holding Co. (NASDAQ:COMM) in a research report released on Monday morning. Deutsche Bank AG currently has a $35.00 price objective on the stock.
Several other equities research analysts also recently issued reports on the stock. BTIG Research initiated coverage on shares of CommScope Holding in a research note on Friday, June 17th. They issued a buy rating and a $41.00 price objective on the stock. Credit Suisse Group AG restated a buy rating on shares of CommScope Holding in a research note on Friday, July 29th. TheStreet upgraded shares of CommScope Holding from a hold rating to a buy rating in a research note on Friday, July 29th. Zacks Investment Research upgraded shares of CommScope Holding from a hold rating to a buy rating and set a $32.00 price objective on the stock in a research note on Tuesday, August 2nd. Finally, Jefferies Group restated a buy rating and issued a $38.00 price objective on shares of CommScope Holding in a research note on Thursday, September 15th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. CommScope Holding has an average rating of Buy and a consensus target price of $33.93.
Shares of CommScope Holding (NASDAQ:COMM) opened at 30.64 on Monday. CommScope Holding has a 12-month low of $19.37 and a 12-month high of $33.54. The firm’s market cap is $5.90 billion. The company has a 50 day moving average of $29.46 and a 200-day moving average of $29.50.
CommScope Holding (NASDAQ:COMM) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the 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%. CommScope Holding’s quarterly revenue was up 50.7% on a year-over-year basis. During the same quarter last year, the company posted $0.49 earnings per share. Equities research analysts forecast that CommScope Holding will post $2.50 EPS for the current fiscal year.
In related news, SVP Peter U. Karlsson sold 7,796 shares of CommScope Holding stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $30.06, for a total value of $234,347.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank M. Drendel sold 7,664 shares of CommScope Holding stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $31.08, for a total value of $238,197.12. The disclosure for this sale can be found here. 4.09% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. boosted its position in CommScope Holding by 14.1% in the second quarter. Macquarie Group Ltd. now owns 2,199,175 shares of the company’s stock worth $68,240,000 after buying an additional 272,126 shares in the last quarter. Williams Jones & Associates LLC acquired a new position in CommScope Holding during the second quarter worth about $2,747,000. Public Employees Retirement System of Ohio boosted its position in CommScope Holding by 55.8% in the second quarter. Public Employees Retirement System of Ohio now owns 41,858 shares of the company’s stock worth $1,299,000 after buying an additional 14,989 shares in the last quarter. Calvert Investment Management Inc. acquired a new position in CommScope Holding during the second quarter worth about $217,000. Finally, Schwab Charles Investment Management Inc. boosted its position in CommScope Holding by 25.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 476,223 shares of the company’s stock worth $14,778,000 after buying an additional 97,934 shares in the last quarter.
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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