CommScope (NASDAQ:COMM) Sets New 52-Week High – What’s Next?

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) reached a new 52-week high during trading on Wednesday . The company traded as high as $7.19 and last traded at $6.95, with a volume of 46669 shares. The stock had previously closed at $6.64.

Wall Street Analyst Weigh In

COMM has been the topic of a number of recent analyst reports. Morgan Stanley increased their price objective on shares of CommScope from $2.70 to $5.00 and gave the stock an “equal weight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft increased their price target on CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Northland Securities boosted their price objective on CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a report on Monday, August 12th. Finally, StockNews.com upgraded CommScope from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, CommScope has a consensus rating of “Hold” and a consensus target price of $2.50.

CommScope Trading Down 25.2 %

The firm has a market cap of $1.12 billion, a P/E ratio of -0.64, a P/E/G ratio of 0.28 and a beta of 2.09. The business has a 50-day moving average price of $5.76 and a 200-day moving average price of $3.17.

CommScope (NASDAQ:COMM) last posted its earnings results on Thursday, August 8th. The communications equipment provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). CommScope had a negative net margin of 31.24% and a negative return on equity of 3.08%. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period last year, the business posted $0.14 EPS. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. On average, equities analysts anticipate that CommScope Holding Company, Inc. will post 0.91 earnings per share for the current fiscal year.

Institutional Trading of CommScope

Hedge funds have recently bought and sold shares of the stock. Mill Creek Capital Advisors LLC bought a new stake in shares of CommScope in the 3rd quarter valued at about $416,000. Aigen Investment Management LP purchased a new stake in CommScope during the third quarter valued at approximately $352,000. Hanseatic Management Services Inc. acquired a new stake in CommScope in the third quarter valued at approximately $76,000. Belvedere Trading LLC purchased a new position in CommScope in the third quarter worth $68,000. Finally, Traynor Capital Management Inc. acquired a new position in shares of CommScope during the third quarter worth $98,000. Hedge funds and other institutional investors own 88.04% of the company’s stock.

CommScope Company Profile

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.