CommScope (NASDAQ:COMM) Rating Increased to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of CommScope (NASDAQ:COMM) from an underweight rating to a neutral rating in a research report released on Tuesday morning, MarketBeat Ratings reports. The firm currently has $5.00 target price on the communications equipment provider’s stock.

A number of other research analysts have also recently issued reports on the company. Raymond James cut CommScope from a “market perform” rating to an “underperform” rating in a research note on Monday, January 6th. Morgan Stanley lowered CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price target on the stock. in a research report on Tuesday, December 17th. Three analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $3.00.

CommScope Price Performance

NASDAQ:COMM opened at $5.28 on Tuesday. CommScope has a 1-year low of $0.86 and a 1-year high of $7.19. The business has a 50 day moving average of $5.19 and a 200 day moving average of $4.54. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -1.19 and a beta of 1.92.

CommScope (NASDAQ:COMM) last announced its quarterly earnings data 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). CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the firm posted $0.10 earnings per share. The company’s revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that CommScope will post -0.77 EPS for the current year.

Institutional Trading of CommScope

A number of institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in CommScope by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 5,111,866 shares of the communications equipment provider’s stock worth $31,239,000 after buying an additional 155,166 shares during the period. Millennium Management LLC raised its holdings in shares of CommScope by 19.9% during the second quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider’s stock valued at $6,242,000 after acquiring an additional 840,742 shares in the last quarter. State Street Corp lifted its stake in CommScope by 9.2% in the third quarter. State Street Corp now owns 4,588,286 shares of the communications equipment provider’s stock worth $28,034,000 after acquiring an additional 387,466 shares during the period. Two Sigma Advisers LP boosted its holdings in CommScope by 29.3% in the third quarter. Two Sigma Advisers LP now owns 4,303,800 shares of the communications equipment provider’s stock valued at $26,296,000 after acquiring an additional 975,200 shares in the last quarter. Finally, Monarch Alternative Capital LP purchased a new position in CommScope during the 3rd quarter valued at $16,623,000. 88.04% of the stock is currently owned by hedge funds and other 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.