CommScope (NASDAQ:COMM) Shares Up 7.3% - What's Next?

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report) shot up 7.3% during trading on Tuesday . The stock traded as high as $5.37 and last traded at $5.28. 1,370,281 shares were traded during mid-day trading, a decline of 61% from the average session volume of 3,544,274 shares. The stock had previously closed at $4.92.

Wall Street Analyst Weigh In

Several analysts recently weighed in on COMM shares. Morgan Stanley downgraded shares of CommScope from an "equal weight" rating to an "underweight" rating and set a $5.00 target price for the company. in a report on Tuesday, December 17th. Raymond James lowered CommScope from a "market perform" rating to an "underperform" rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. upgraded shares of CommScope from an "underweight" rating to a "neutral" rating and set a $5.00 price target on the stock in a research note on Tuesday. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $3.00.

CommScope Trading Up 7.3 %

The company has a market cap of $1.14 billion, a PE ratio of -1.19 and a beta of 1.92. The company has a fifty day simple moving average of $5.21 and a two-hundred day simple moving average of $4.51.

CommScope (NASDAQ:COMM - Get Free Report) last released its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.38). CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The firm had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.42 billion. During the same quarter in the previous year, the company posted $0.10 earnings per share. The firm's quarterly revenue was up 2.7% on a year-over-year basis. On average, research analysts anticipate that CommScope Holding Company, Inc. will post -0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On CommScope

Several institutional investors have recently modified their holdings of COMM. BNP Paribas Financial Markets increased its stake in CommScope by 415.0% in the third quarter. BNP Paribas Financial Markets now owns 188,182 shares of the communications equipment provider's stock valued at $1,150,000 after purchasing an additional 151,640 shares during the last quarter. Monarch Alternative Capital LP purchased a new position in shares of CommScope in the 3rd quarter valued at $16,623,000. XTX Topco Ltd raised its stake in CommScope by 263.1% during the 2nd quarter. XTX Topco Ltd now owns 198,264 shares of the communications equipment provider's stock worth $244,000 after acquiring an additional 143,654 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in CommScope during the 2nd quarter worth $144,000. Finally, Point72 Asset Management L.P. purchased a new stake in CommScope in the third quarter valued at $894,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

About CommScope

CommScope Holding Company, Inc provides infrastructure solutions for communications, data center, and entertainment networks worldwide. The company operates through Connectivity and Cable Solutions (CCS); Outdoor Wireless Networks (OWN); Networking, Intelligent Cellular and Security Solutions (NICS), and Access Network Solutions (ANS) segments.