Northland Securities Analysts Give CommScope Holding Company, Inc. (COMM) a $28.00 Price Target
CommScope Holding Company, Inc. (NASDAQ:COMM) has been assigned a $28.00 price objective by research analysts at Northland Securities in a research note issued to investors on Tuesday. The brokerage presently has a “hold” rating on the communications equipment provider’s stock. Northland Securities’ price target points to a potential downside of 12.14% from the company’s previous close.
Other research analysts have also issued research reports about the company. TheStreet upgraded CommScope Holding from a “c+” rating to a “b” rating in a research report on Tuesday, August 8th. Jefferies Group LLC reiterated a “buy” rating and issued a $40.00 target price (down previously from $43.00) on shares of CommScope Holding in a research report on Wednesday, August 9th. BidaskClub upgraded CommScope Holding from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Barclays PLC lowered CommScope Holding from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $41.00 to $36.00 in a research report on Friday, August 4th. Finally, Zacks Investment Research upgraded CommScope Holding from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $41.20.
Shares of CommScope Holding (NASDAQ COMM) traded down 0.47% during trading on Tuesday, reaching $31.73. The company had a trading volume of 47,730 shares. The firm has a 50-day moving average price of $33.08 and a 200-day moving average price of $36.22. CommScope Holding has a 52-week low of $29.91 and a 52-week high of $42.75. The company has a market capitalization of $6.13 billion, a P/E ratio of 26.49 and a beta of 1.19.
CommScope Holding (NASDAQ:COMM) last issued its earnings results on Thursday, August 3rd. The communications equipment provider reported $0.60 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.05). The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.23 billion. CommScope Holding had a return on equity of 33.38% and a net margin of 4.96%. CommScope Holding’s revenue was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 EPS. On average, analysts predict that CommScope Holding will post $2.22 EPS for the current fiscal year.
CommScope Holding declared that its Board of Directors has initiated a share buyback program on Thursday, August 3rd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the communications equipment provider to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.
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In other CommScope Holding news, Director Claudius E. Iv Watts purchased 15,000 shares of CommScope Holding stock in a transaction on Monday, August 7th. The stock was bought at an average price of $32.87 per share, for a total transaction of $493,050.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Timothy T. Yates purchased 5,000 shares of CommScope Holding stock in a transaction on Tuesday, August 8th. The shares were acquired at an average price of $32.62 per share, with a total value of $163,100.00. The disclosure for this purchase can be found here. Insiders own 3.33% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. raised its stake in shares of CommScope Holding by 6.3% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 2,690 shares of the communications equipment provider’s stock worth $113,000 after buying an additional 160 shares in the last quarter. LS Investment Advisors LLC bought a new stake in shares of CommScope Holding in the 2nd quarter worth $114,000. Krilogy Financial LLC raised its stake in shares of CommScope Holding by 5.7% in the 2nd quarter. Krilogy Financial LLC now owns 3,170 shares of the communications equipment provider’s stock worth $121,000 after buying an additional 170 shares in the last quarter. Financial Architects Inc raised its stake in shares of CommScope Holding by 9.8% in the 2nd quarter. Financial Architects Inc now owns 3,603 shares of the communications equipment provider’s stock worth $137,000 after buying an additional 322 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. raised its stake in shares of CommScope Holding by 76.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,770 shares of the communications equipment provider’s stock worth $181,000 after buying an additional 2,064 shares in the last quarter. 96.93% of the stock is currently owned by institutional investors.
About CommScope Holding
CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.
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