Commscope (COMM) Given Buy Rating at Citigroup

Citigroup reissued their buy rating on shares of Commscope (NASDAQ:COMM) in a research report released on Friday, March 9th. They currently have a $47.00 price objective on the communications equipment provider’s stock, up from their prior price objective of $45.00.

A number of other equities analysts also recently commented on COMM. BidaskClub downgraded Commscope from a strong-buy rating to a buy rating in a report on Wednesday, December 20th. Zacks Investment Research downgraded Commscope from a buy rating to a hold rating in a report on Wednesday, February 21st. ValuEngine raised Commscope from a hold rating to a buy rating in a research note on Thursday, March 1st. Northland Securities reaffirmed a hold rating and set a $33.00 price objective on shares of Commscope in a research report on Friday, February 16th. Finally, Longbow Research raised Commscope from a neutral rating to a buy rating in a research report on Friday, January 26th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $42.78.

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Shares of COMM traded down $0.51 during midday trading on Friday, hitting $39.46. 982,956 shares of the company traded hands, compared to its average volume of 1,672,794. Commscope has a one year low of $30.95 and a one year high of $42.75. The company has a quick ratio of 2.07, a current ratio of 2.69 and a debt-to-equity ratio of 2.65. The stock has a market cap of $7,670.10, a PE ratio of 19.53, a P/E/G ratio of 2.14 and a beta of 1.05.

Commscope (NASDAQ:COMM) last issued its quarterly earnings data on Thursday, February 15th. The communications equipment provider reported $0.47 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.47. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. Commscope had a return on equity of 26.02% and a net margin of 4.25%. Commscope’s revenue was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.61 earnings per share. analysts expect that Commscope will post 2.45 earnings per share for the current fiscal year.

In other news, insider Marvin S. Edwards, Jr. sold 50,000 shares of Commscope stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $38.66, for a total value of $1,933,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank M. Drendel sold 15,000 shares of Commscope stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $38.02, for a total value of $570,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 212,558 shares of company stock worth $8,380,578 in the last three months. 3.35% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. raised its position in Commscope by 8.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 20,072 shares of the communications equipment provider’s stock valued at $667,000 after purchasing an additional 1,568 shares in the last quarter. Amalgamated Bank raised its position in Commscope by 4.8% during the 4th quarter. Amalgamated Bank now owns 37,008 shares of the communications equipment provider’s stock valued at $1,400,000 after purchasing an additional 1,699 shares in the last quarter. Xact Kapitalforvaltning AB raised its position in Commscope by 5.2% during the 4th quarter. Xact Kapitalforvaltning AB now owns 34,652 shares of the communications equipment provider’s stock valued at $1,311,000 after purchasing an additional 1,722 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Commscope by 29.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,705 shares of the communications equipment provider’s stock valued at $294,000 after purchasing an additional 1,760 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in Commscope by 19.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 11,886 shares of the communications equipment provider’s stock valued at $395,000 after purchasing an additional 1,903 shares in the last quarter.

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Commscope Company Profile

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.

Analyst Recommendations for Commscope (NASDAQ:COMM)

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