CommScope Holding Company, Inc. (NASDAQ:COMM) Receives Consensus Rating of “Moderate Buy” from Brokerages

CommScope Holding Company, Inc. (NASDAQ:COMM) has been assigned an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $16.1667.

A number of research firms have commented on COMM. Wall Street Zen upgraded CommScope from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Zacks Research upgraded shares of CommScope from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Weiss Ratings reissued a “hold (c)” rating on shares of CommScope in a research note on Wednesday, October 8th. Bank of America increased their price target on CommScope from $20.00 to $23.50 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Finally, Northland Securities set a $25.00 price objective on CommScope in a research report on Friday, October 31st.

Hedge Funds Weigh In On CommScope

Institutional investors and hedge funds have recently modified their holdings of the business. Hudson Bay Capital Management LP grew its position in shares of CommScope by 142.8% during the 3rd quarter. Hudson Bay Capital Management LP now owns 2,428,389 shares of the communications equipment provider’s stock worth $37,591,000 after buying an additional 1,428,389 shares during the period. Severin Investments LLC bought a new position in CommScope during the third quarter worth $529,000. Allworth Financial LP grew its holdings in CommScope by 411.6% in the third quarter. Allworth Financial LP now owns 1,719 shares of the communications equipment provider’s stock worth $27,000 after purchasing an additional 1,383 shares during the period. Cantor Fitzgerald L. P. bought a new stake in CommScope in the third quarter valued at $515,000. Finally, CIBC Bancorp USA Inc. acquired a new position in shares of CommScope during the third quarter valued at about $352,000. 88.04% of the stock is currently owned by institutional investors.

CommScope Stock Up 2.5%

Shares of COMM stock opened at $18.29 on Wednesday. The firm has a market capitalization of $4.05 billion, a P/E ratio of 5.58, a P/E/G ratio of 0.87 and a beta of 2.38. CommScope has a twelve month low of $2.94 and a twelve month high of $20.55. The stock’s fifty day simple moving average is $17.46 and its 200 day simple moving average is $13.87.

About CommScope

CommScope Holdings, Inc is a global provider of network infrastructure solutions that enable the seamless transmission of voice, video and data across wired and wireless networks. The company designs, manufactures and delivers a broad portfolio of cable, connectivity and networking products, including fiber-optic and coaxial cables, modular connectivity systems, antennas, small cells and distributed antenna systems (DAS). CommScope’s offerings support the growing demands of telecommunications service providers, cable operators, enterprise customers and data center operators that require scalable, high-performance solutions.

Serving customers in more than 150 countries, CommScope’s product lines span the full network lifecycle from planning and design through installation and maintenance.