Morgan Stanley Raises CommScope (NASDAQ:COMM) Price Target to $5.00

CommScope (NASDAQ:COMM - Get Free Report) had its price objective raised by analysts at Morgan Stanley from $2.70 to $5.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an "equal weight" rating on the communications equipment provider's stock. Morgan Stanley's price objective would suggest a potential downside of 22.12% from the company's current price.

Several other brokerages also recently commented on COMM. Northland Securities raised their target price on CommScope from $1.25 to $2.00 and gave the company a "market perform" rating in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft upped their target price on CommScope from $1.25 to $2.00 and gave the stock a "hold" rating in a research report on Tuesday, July 30th. Finally, StockNews.com raised shares of CommScope from a "sell" rating to a "hold" rating in a research report on Thursday, August 15th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $2.50.

CommScope Price Performance

Shares of CommScope stock traded down $0.37 on Monday, hitting $6.42. 4,973,676 shares of the company's stock traded hands, compared to its average volume of 4,070,158. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of -0.83, a price-to-earnings-growth ratio of 0.30 and a beta of 2.09. The company has a fifty day moving average of $5.62 and a two-hundred day moving average of $3.06. CommScope has a one year low of $0.86 and a one year high of $7.07.

CommScope (NASDAQ:COMM - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.23 billion. CommScope had a negative return on equity of 3.08% and a negative net margin of 31.24%. The business's quarterly revenue was down 12.7% compared to the same quarter last year. During the same period last year, the business earned $0.14 EPS. Equities research analysts anticipate that CommScope will post 0.91 earnings per share for the current year.

Institutional Investors Weigh In On CommScope

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its position in shares of CommScope by 5,083.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider's stock worth $34,000 after buying an additional 25,212 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in CommScope by 15.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 187,790 shares of the communications equipment provider's stock valued at $248,000 after purchasing an additional 24,523 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of CommScope during the 2nd quarter valued at $144,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of CommScope during the 1st quarter worth $369,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of CommScope by 31.9% in the 1st quarter. BNP Paribas Financial Markets now owns 454,165 shares of the communications equipment provider's stock worth $595,000 after buying an additional 109,753 shares during the last quarter. 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.