CommScope Holding Co. (NASDAQ:COMM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.
According to Zacks, “CommScope Holding Inc. is a premier network infrastructure provider. The Company, through its subsidiaries, provides end-to-end solutions connecting technology and wireless and wired networks. It operates in three segments: Wireless, Enterprise, and Broadband. CommScope Holding Company, Inc. is headquartered in Hickory, North Carolina. “
COMM has been the topic of several other research reports. Credit Suisse Group AG reissued a “buy” rating and issued a $36.00 target price on shares of CommScope Holding in a report on Friday, November 4th. Raymond James Financial Inc. reissued a “market perform” rating on shares of CommScope Holding in a report on Tuesday. Citigroup Inc. assumed coverage on CommScope Holding in a report on Tuesday, December 20th. They set a “buy” rating and a $45.00 price objective on the stock. JPMorgan Chase & Co. set a $40.00 price objective on CommScope Holding and gave the stock a “buy” rating in a report on Sunday, November 6th. Finally, TheStreet lowered CommScope Holding from a “buy” rating to a “hold” rating in a report on Monday, October 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $37.29.
Shares of CommScope Holding (NASDAQ:COMM) traded down 0.06% during midday trading on Thursday, reaching $35.73. The company had a trading volume of 1,353,696 shares. The stock has a market capitalization of $6.89 billion, a price-to-earnings ratio of 73.52 and a beta of 1.29. The firm’s 50 day moving average price is $36.77 and its 200-day moving average price is $32.50. CommScope Holding has a 1-year low of $19.37 and a 1-year high of $38.00.
CommScope Holding (NASDAQ:COMM) last posted its earnings results on Thursday, November 3rd. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.71 by $0.10. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.29 billion. CommScope Holding had a return on equity of 35.24% and a net margin of 1.91%. CommScope Holding’s revenue for the quarter was up 33.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 earnings per share. Equities research analysts expect that CommScope Holding will post $2.60 EPS for the current fiscal year.
In other CommScope Holding news, Director Timothy T. Yates bought 5,000 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was acquired at an average price of $34.87 per share, for a total transaction of $174,350.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Randall W. Crenshaw sold 25,000 shares of the stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $31.74, for a total transaction of $793,500.00. The disclosure for this sale can be found here. Insiders have sold 712,875 shares of company stock valued at $25,815,483 in the last quarter. Insiders own 4.09% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Mercer Capital Advisers Inc. purchased a new stake in shares of CommScope Holding during the third quarter worth approximately $119,000. Panagora Asset Management Inc. purchased a new stake in shares of CommScope Holding during the second quarter worth approximately $126,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of CommScope Holding by 15.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,551 shares of the company’s stock worth $137,000 after buying an additional 597 shares during the last quarter. US Bancorp DE increased its stake in shares of CommScope Holding by 90.1% in the second quarter. US Bancorp DE now owns 4,558 shares of the company’s stock worth $141,000 after buying an additional 2,160 shares during the last quarter. Finally, TLP Group LLC purchased a new stake in shares of CommScope Holding during the third quarter worth approximately $149,000.
CommScope Holding Company Profile
CommScope Holding Company, Inc is provider of infrastructure solutions for wireless, business enterprise and residential broadband networks. The Company operates through four segments: Wireless, Enterprise, Broadband and Broadband Network Solutions (BNS). Its Wireless segment provides merchant RF wireless network connectivity solutions and cell distributed antenna systems (DAS) solutions to enable carriers’ second generation (2G), third generation (3G) and fourth generation (4G) networks.
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