Analysts Set Commscope Holding Company Inc (COMM) Price Target at $37.75

Commscope Holding Company Inc (NASDAQ:COMM) has received a consensus recommendation of “Hold” from the fourteen research firms that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $37.75.

Several brokerages have recently weighed in on COMM. Morgan Stanley reduced their price target on Commscope from $41.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday, May 2nd. ValuEngine downgraded Commscope from a “hold” rating to a “sell” rating in a report on Friday, June 1st. Citigroup reduced their price target on Commscope from $47.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, May 2nd. BidaskClub downgraded Commscope from a “hold” rating to a “sell” rating in a report on Thursday, May 3rd. Finally, Northland Securities upgraded Commscope from a “market perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a report on Wednesday, May 2nd.

Shares of Commscope traded up $0.05, hitting $30.27, on Thursday, Marketbeat Ratings reports. 1,135,800 shares of the company traded hands, compared to its average volume of 1,759,194. Commscope has a 52 week low of $26.29 and a 52 week high of $41.60. The company has a debt-to-equity ratio of 2.53, a current ratio of 2.73 and a quick ratio of 2.11. The company has a market capitalization of $5.72 billion, a PE ratio of 14.99, a PEG ratio of 1.39 and a beta of 0.97.

Commscope (NASDAQ:COMM) last issued its quarterly earnings results on Tuesday, May 1st. The communications equipment provider reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. Commscope had a return on equity of 24.08% and a net margin of 4.27%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the company earned $0.52 earnings per share. The company’s revenue was down 1.5% on a year-over-year basis. sell-side analysts anticipate that Commscope will post 2.26 earnings per share for the current fiscal year.

In other news, CFO Alexander W. Pease bought 10,725 shares of the company’s stock in a transaction on Friday, May 4th. The shares were acquired at an average cost of $27.95 per share, with a total value of $299,763.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank M. Drendel sold 58,983 shares of the firm’s stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $40.22, for a total value of $2,372,296.26. The disclosure for this sale can be found here. Insiders purchased a total of 32,418 shares of company stock valued at $919,187 over the last quarter. 3.35% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd purchased a new position in Commscope in the first quarter worth about $1,303,000. Principal Financial Group Inc. boosted its position in Commscope by 31.8% in the first quarter. Principal Financial Group Inc. now owns 29,987 shares of the communications equipment provider’s stock worth $1,199,000 after purchasing an additional 7,235 shares during the last quarter. Royal Bank of Canada boosted its position in Commscope by 5.3% in the first quarter. Royal Bank of Canada now owns 35,460 shares of the communications equipment provider’s stock worth $1,418,000 after purchasing an additional 1,782 shares during the last quarter. Legal & General Group Plc boosted its position in Commscope by 3.2% in the first quarter. Legal & General Group Plc now owns 260,977 shares of the communications equipment provider’s stock worth $10,431,000 after purchasing an additional 8,146 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in Commscope in the first quarter worth about $307,000.

Commscope Company Profile

CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.

Analyst Recommendations for Commscope (NASDAQ:COMM)

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