Commscope (COMM) Cut to Neutral at Longbow Research
Longbow Research cut shares of Commscope (NASDAQ:COMM) from a buy rating to a neutral rating in a research report released on Friday, The Fly reports.
COMM has been the subject of a number of other reports. ValuEngine cut Commscope from a hold rating to a sell rating in a research note on Tuesday, September 18th. Northland Securities set a $36.00 price target on Commscope and gave the company a buy rating in a research note on Thursday, August 2nd. BidaskClub cut Commscope from a sell rating to a strong sell rating in a research note on Tuesday, July 17th. Zacks Investment Research cut Commscope from a hold rating to a sell rating in a research note on Friday, August 10th. Finally, Jefferies Financial Group cut Commscope from a buy rating to a hold rating and decreased their price target for the company from $35.00 to $30.50 in a research note on Monday, August 6th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. Commscope presently has an average rating of Hold and a consensus target price of $33.79.
Shares of NASDAQ COMM traded down $0.17 during mid-day trading on Friday, reaching $19.39. 5,264,759 shares of the company were exchanged, compared to its average volume of 2,740,782. The company has a debt-to-equity ratio of 2.57, a current ratio of 2.77 and a quick ratio of 2.16. The stock has a market capitalization of $4.71 billion, a P/E ratio of 9.60, a price-to-earnings-growth ratio of 1.34 and a beta of 1.23. Commscope has a 1 year low of $18.52 and a 1 year high of $41.60.
Hedge funds have recently made changes to their positions in the company. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new position in shares of Commscope in the second quarter valued at about $123,000. Twin Tree Management LP acquired a new position in shares of Commscope in the second quarter valued at about $151,000. NumerixS Investment Technologies Inc increased its holdings in shares of Commscope by 6,300.0% in the second quarter. NumerixS Investment Technologies Inc now owns 6,400 shares of the communications equipment provider’s stock valued at $185,000 after purchasing an additional 6,300 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Commscope by 54.7% in the second quarter. Advisors Asset Management Inc. now owns 14,583 shares of the communications equipment provider’s stock valued at $194,000 after purchasing an additional 5,156 shares during the period. Finally, Engineers Gate Manager LP acquired a new position in shares of Commscope in the second quarter valued at about $202,000.
Commscope Company Profile
CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.
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