JPMorgan Chase & Co. Upgrades CommScope (NASDAQ:COMM) to Neutral

JPMorgan Chase & Co. upgraded shares of CommScope (NASDAQ:COMM - Free Report) from an underweight rating to a neutral rating in a research report sent to investors on Tuesday, MarketBeat reports. JPMorgan Chase & Co. currently has $5.00 price target on the communications equipment provider's stock.

A number of other analysts have also recently issued reports on COMM. Morgan Stanley cut CommScope from an "equal weight" rating to an "underweight" rating and set a $5.00 price objective for the company. in a research report on Tuesday, December 17th. Raymond James cut shares of CommScope from a "market perform" rating to an "underperform" rating in a report on Monday, January 6th. Three research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $3.00.

CommScope Stock Performance

NASDAQ:COMM traded up $0.36 during trading hours on Tuesday, hitting $5.28. The stock had a trading volume of 5,093,980 shares, compared to its average volume of 4,081,860. The business's 50 day moving average is $5.19 and its 200-day moving average is $4.54. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -1.19 and a beta of 1.92. CommScope has a one year low of $0.86 and a one year high of $7.19.

CommScope (NASDAQ:COMM - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.05) EPS for the quarter, missing the consensus estimate 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 business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the business posted $0.10 EPS. The business's quarterly revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts anticipate that CommScope will post -0.77 EPS for the current fiscal year.

Institutional Trading of CommScope

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

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.