CommScope (NASDAQ:COMM) Trading Up 9.4% - Still a Buy?

CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report) shares rose 9.4% on Friday . The company traded as high as $6.21 and last traded at $6.18. Approximately 1,464,140 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 4,065,496 shares. The stock had previously closed at $5.65.

Analyst Upgrades and Downgrades

COMM has been the topic of several recent analyst reports. Northland Securities upped their price objective on shares of 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 price target on shares of CommScope from $1.25 to $2.00 and gave the company a "hold" rating in a research report on Tuesday, July 30th. Finally, StockNews.com upgraded shares of CommScope from a "sell" rating to a "hold" rating in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, CommScope currently has a consensus rating of "Hold" and a consensus target price of $1.75.

CommScope Stock Up 7.1 %

The stock's 50-day moving average is $5.02 and its 200 day moving average is $2.63. The stock has a market capitalization of $1.28 billion, a PE ratio of -0.67, a P/E/G ratio of 0.28 and a beta of 2.10.

CommScope (NASDAQ:COMM - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.01). CommScope had a negative net margin of 31.24% and a negative return on equity of 3.08%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the business posted $0.14 EPS. CommScope's revenue for the quarter was down 12.7% on a year-over-year basis. As a group, equities research analysts forecast that CommScope Holding Company, Inc. will post 0.91 EPS for the current year.

Hedge Funds Weigh In On CommScope

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its stake in shares of CommScope by 5.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 86,509 shares of the communications equipment provider's stock worth $106,000 after purchasing an additional 4,466 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in CommScope during the third quarter worth $31,000. Creative Planning bought a new position in CommScope during the third quarter valued at about $73,000. SummerHaven Investment Management LLC lifted its position in shares of CommScope by 10.4% in the second quarter. SummerHaven Investment Management LLC now owns 128,079 shares of the communications equipment provider's stock worth $158,000 after buying an additional 12,017 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of CommScope in the third quarter worth about $109,000. 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.