Longbow Research downgraded shares of Commscope (NASDAQ:COMM) from a buy rating to a neutral rating in a research report report published on Friday morning, The Fly reports.
Several other brokerages have also commented on COMM. ValuEngine raised Commscope from a sell rating to a hold rating in a research report on Tuesday, July 31st. Goldman Sachs Group lowered Commscope from a buy rating to a neutral rating and set a $32.00 price objective for the company. in a research report on Tuesday, October 9th. BidaskClub lowered Commscope from a sell rating to a strong sell rating in a research report on Thursday, October 11th. Raymond James raised Commscope from a market perform rating to an outperform rating in a research report on Thursday. Finally, Credit Suisse Group set a $31.00 price objective on Commscope and gave the company a hold rating in a research report on Wednesday, August 1st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. Commscope has a consensus rating of Hold and a consensus target price of $33.79.
COMM stock traded down $0.17 on Friday, reaching $19.39. The company’s stock had a trading volume of 5,264,759 shares, compared to its average volume of 2,740,782. Commscope has a 12-month low of $18.52 and a 12-month high of $41.60. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of 9.60, a PEG ratio of 1.34 and a beta of 1.23. The company has a quick ratio of 2.16, a current ratio of 2.77 and a debt-to-equity ratio of 2.57.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Trexquant Investment LP bought a new stake in Commscope in the 3rd quarter worth about $1,945,000. DekaBank Deutsche Girozentrale lifted its position in shares of Commscope by 24.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 25,505 shares of the communications equipment provider’s stock valued at $834,000 after buying an additional 4,975 shares in the last quarter. CIBC World Markets Inc. purchased a new position in Commscope in the 3rd quarter worth approximately $1,572,000. Staley Capital Advisers Inc. purchased a new position in Commscope in the 3rd quarter worth approximately $1,242,000. Finally, BlackRock Inc. lifted its holdings in Commscope by 2.8% in the 3rd quarter. BlackRock Inc. now owns 10,593,048 shares of the communications equipment provider’s stock worth $325,842,000 after purchasing an additional 290,848 shares in the last quarter.
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.
Featured Story: Swap
Receive News & Ratings for Commscope Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commscope and related companies with MarketBeat.com's FREE daily email newsletter.