CommScope Holding Company, Inc. (NASDAQ:COMM) Receives Average Rating of “Reduce” from Analysts

CommScope Holding Company, Inc. (NASDAQ:COMM) has been assigned an average rating of “Reduce” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $4.75.

A number of analysts have commented on COMM shares. StockNews.com raised shares of CommScope from a “hold” rating to a “buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. raised shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a report on Tuesday, January 14th. Morgan Stanley lowered shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price target for the company. in a report on Tuesday, December 17th. Raymond James lowered shares of CommScope from a “market perform” rating to an “underperform” rating in a report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $7.00 price target on shares of CommScope in a report on Thursday, February 27th.

Hedge Funds Weigh In On CommScope

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in CommScope by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 22,752,737 shares of the communications equipment provider’s stock worth $118,542,000 after purchasing an additional 694,363 shares during the period. Deutsche Bank AG lifted its position in CommScope by 182.2% during the 4th quarter. Deutsche Bank AG now owns 9,289,013 shares of the communications equipment provider’s stock worth $48,396,000 after buying an additional 5,996,931 shares in the last quarter. Geode Capital Management LLC lifted its position in CommScope by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 5,126,442 shares of the communications equipment provider’s stock worth $26,715,000 after buying an additional 14,576 shares in the last quarter. State Street Corp lifted its position in CommScope by 9.2% during the 3rd quarter. State Street Corp now owns 4,588,286 shares of the communications equipment provider’s stock worth $28,034,000 after buying an additional 387,466 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in CommScope by 10.5% during the 4th quarter. Renaissance Technologies LLC now owns 4,421,300 shares of the communications equipment provider’s stock worth $23,035,000 after buying an additional 421,000 shares in the last quarter. 88.04% of the stock is owned by institutional investors and hedge funds.

CommScope Stock Performance

COMM opened at $5.60 on Monday. The company has a fifty day moving average price of $5.29 and a two-hundred day moving average price of $5.46. CommScope has a 52 week low of $0.86 and a 52 week high of $7.19. The firm has a market capitalization of $1.21 billion, a PE ratio of -1.27, a P/E/G ratio of 0.41 and a beta of 1.89.

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.