CommScope Holding Company, Inc. (NASDAQ:COMM) Given Consensus Rating of “Reduce” by Brokerages

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) have been assigned a consensus recommendation of “Reduce” from the six analysts that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $3.00.

A number of research analysts recently commented on the company. Morgan Stanley downgraded shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 target price for the company. in a research report on Tuesday, December 17th. Raymond James downgraded CommScope from a “market perform” rating to an “underperform” rating in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. upgraded CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a report on Tuesday, January 14th.

Institutional Trading of CommScope

Several hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its stake in CommScope by 415.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 188,182 shares of the communications equipment provider’s stock valued at $1,150,000 after buying an additional 151,640 shares during the period. JPMorgan Chase & Co. increased its stake in shares of CommScope by 151.9% during the third quarter. JPMorgan Chase & Co. now owns 900,089 shares of the communications equipment provider’s stock valued at $5,500,000 after acquiring an additional 542,794 shares during the period. Monarch Alternative Capital LP bought a new stake in CommScope during the third quarter worth approximately $16,623,000. Point72 Asset Management L.P. acquired a new stake in CommScope in the third quarter worth approximately $894,000. Finally, Semanteon Capital Management LP bought a new position in CommScope during the 3rd quarter valued at $1,139,000. Institutional investors own 88.04% of the company’s stock.

CommScope Price Performance

Shares of COMM opened at $5.46 on Thursday. The stock has a market cap of $1.18 billion, a PE ratio of -1.24, a P/E/G ratio of 0.38 and a beta of 1.90. CommScope has a 12 month low of $0.86 and a 12 month high of $7.19. The stock’s 50-day moving average is $5.32 and its two-hundred day moving average is $5.16.

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.