CommScope (NASDAQ:COMM) Stock Price Down 6% - What's Next?

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report) traded down 6% during mid-day trading on Monday . The stock traded as low as $6.34 and last traded at $6.38. 3,020,542 shares were traded during mid-day trading, a decline of 26% from the average session volume of 4,060,989 shares. The stock had previously closed at $6.79.

Wall Street Analyst Weigh In

COMM has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted 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. Morgan Stanley increased their price target on CommScope from $2.70 to $5.00 and gave the stock an "equal weight" rating in a research note on Monday. StockNews.com raised CommScope from a "sell" rating to a "hold" rating in a research note on Thursday, August 15th. Finally, Northland Securities upped their price objective on CommScope from $1.25 to $2.00 and gave the stock a "market perform" rating in a report on Monday, August 12th. 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 has a consensus rating of "Hold" and an average target price of $2.50.

CommScope Price Performance

The business has a fifty day moving average of $5.66 and a 200 day moving average of $3.10. The stock has a market cap of $1.39 billion, a PE ratio of -0.79, a P/E/G ratio of 0.30 and a beta of 2.09.

CommScope (NASDAQ:COMM - Get Free Report) last issued its earnings results 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). CommScope had a negative return on equity of 3.08% and a negative net margin of 31.24%. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the business posted $0.14 EPS. CommScope's revenue was down 12.7% compared to the same quarter last year. On average, equities research analysts expect that CommScope Holding Company, Inc. will post 0.91 EPS for the current year.

Institutional Investors Weigh In On CommScope

A number of institutional investors have recently made changes to their positions in COMM. Headlands Technologies LLC grew its stake in CommScope by 357.9% during the 1st quarter. Headlands Technologies LLC now owns 23,953 shares of the communications equipment provider's stock worth $31,000 after buying an additional 18,722 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of CommScope during the third quarter valued at $31,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of CommScope by 5,083.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider's stock valued at $34,000 after purchasing an additional 25,212 shares during the last quarter. Belvedere Trading LLC purchased a new stake in shares of CommScope during the third quarter valued at $68,000. Finally, Creative Planning purchased a new stake in shares of CommScope during the third quarter valued at $73,000. 88.04% of the stock is currently owned by institutional investors.

CommScope Company Profile

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.