CommScope (NASDAQ:COMM) Stock Price Up 7.3% – What’s Next?

CommScope Holding Company, Inc. (NASDAQ:COMM) rose 7.3% during trading on Tuesday . The company traded as high as $5.37 and last traded at $5.28. Approximately 1,370,281 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 3,544,274 shares. The stock had previously closed at $4.92.

Analyst Upgrades and Downgrades

COMM has been the topic of a number of recent research reports. Raymond James lowered CommScope from a “market perform” rating to an “underperform” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. upgraded CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research report on Tuesday. Finally, Morgan Stanley lowered CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a research report on Tuesday, December 17th. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $3.00.

CommScope Stock Performance

The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -1.22, a P/E/G ratio of 0.57 and a beta of 1.92. The company has a 50 day moving average price of $5.16 and a two-hundred day moving average price of $4.55.

CommScope (NASDAQ:COMM) last announced its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.38). The business had revenue of $1.08 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 earnings per share. On average, equities analysts expect that CommScope Holding Company, Inc. will post -0.85 earnings per share for the current fiscal year.

Institutional Trading of CommScope

Several large investors have recently made changes to their positions in the company. Ballentine Partners LLC purchased a new stake in shares of CommScope during the fourth quarter worth approximately $58,000. Diversified Trust Co increased its position in shares of CommScope by 11.1% during the fourth quarter. Diversified Trust Co now owns 48,405 shares of the communications equipment provider’s stock worth $252,000 after purchasing an additional 4,827 shares in the last quarter. JPMorgan Chase & Co. increased its position 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 worth $5,500,000 after purchasing an additional 542,794 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of CommScope during the third quarter worth approximately $755,000. Finally, Geode Capital Management LLC increased its position in shares of CommScope by 3.1% during the third quarter. Geode Capital Management LLC now owns 5,111,866 shares of the communications equipment provider’s stock worth $31,239,000 after purchasing an additional 155,166 shares in the last quarter. 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.