CommScope (NASDAQ:COMM) Trading Up 6.4% – Still a Buy?

CommScope Holding Company, Inc. (NASDAQ:COMM)’s share price traded up 6.4% during trading on Thursday . The stock traded as high as $6.40 and last traded at $6.57. 1,874,071 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 4,306,853 shares. The stock had previously closed at $6.17.

Analysts Set New Price Targets

COMM has been the subject of a number of recent analyst reports. Morgan Stanley downgraded CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective for the company. in a research report on Tuesday, December 17th. JPMorgan Chase & Co. upgraded shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a research report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $7.00 price objective on shares of CommScope in a report on Thursday. Finally, Raymond James downgraded shares of CommScope from a “market perform” rating to an “underperform” rating in a report on Monday, January 6th. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $4.00.

CommScope Price Performance

The stock’s 50 day simple moving average is $5.26 and its 200-day simple moving average is $5.26. The company has a market capitalization of $1.36 billion, a PE ratio of -1.42, a price-to-earnings-growth ratio of 0.41 and a beta of 1.90.

Institutional Investors Weigh In On CommScope

Large investors have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd acquired a new position in shares of CommScope in the fourth quarter worth $27,000. National Bank of Canada FI boosted its holdings in CommScope by 109.1% in the third quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock valued at $33,000 after purchasing an additional 2,857 shares during the period. Sterling Capital Management LLC grew its stake in CommScope by 826.0% during the 4th quarter. Sterling Capital Management LLC now owns 6,760 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 6,030 shares in the last quarter. Quarry LP increased its holdings in CommScope by 1,005.4% during the 3rd quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock worth $50,000 after purchasing an additional 7,380 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in CommScope by 67.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider’s stock valued at $52,000 after purchasing an additional 4,026 shares in the last quarter. 88.04% of the stock is owned by hedge funds and other institutional investors.

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.