CommScope (NASDAQ:COMM) Trading 13.7% Higher – Should You Buy?

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) rose 13.7% during mid-day trading on Monday . The stock traded as high as $5.33 and last traded at $5.32. Approximately 3,338,601 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 4,163,044 shares. The stock had previously closed at $4.68.

Analyst Ratings Changes

A number of brokerages recently commented on COMM. Morgan Stanley upped their target price on CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. StockNews.com raised CommScope from a “sell” rating to a “hold” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Finally, Northland Securities upped their target price on shares of CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a research note on Monday, August 12th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, CommScope currently has an average rating of “Hold” and an average target price of $2.50.

CommScope Stock Up 8.8 %

The company has a market cap of $1.10 billion, a PE ratio of -1.16 and a beta of 2.09. The firm’s 50-day moving average is $5.79 and its 200-day moving average is $3.49.

CommScope (NASDAQ:COMM) last posted its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.38). The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.42 billion. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 EPS. As a group, equities research analysts anticipate that CommScope Holding Company, Inc. will post -0.77 EPS for the current fiscal year.

Institutional Trading of CommScope

A number of institutional investors have recently bought and sold shares of COMM. Future Financial Wealth Managment LLC purchased a new stake in CommScope during the third quarter valued at approximately $31,000. National Bank of Canada FI raised its position in shares of 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 worth $33,000 after acquiring an additional 2,857 shares during the period. Quarry LP boosted its position in CommScope by 1,005.4% during the third 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 in the last quarter. Belvedere Trading LLC acquired a new stake in CommScope in the 3rd quarter valued at $68,000. Finally, Creative Planning purchased a new stake in shares of CommScope during the third quarter worth about $73,000. 88.04% of the stock is currently owned by 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.