CommScope (NASDAQ:COMM) Reaches New 1-Year High – What’s Next?

CommScope Holding Company, Inc. (NASDAQ:COMM) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $6.76 and last traded at $6.69, with a volume of 1972615 shares. The stock had previously closed at $6.22.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Northland Securities boosted their target price on CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a report on Monday, August 12th. 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. Finally, StockNews.com upgraded CommScope from a “sell” rating to a “hold” rating in a report on Thursday, August 15th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $1.75.

CommScope Stock Up 7.7 %

The firm has a fifty day moving average price of $5.35 and a 200-day moving average price of $2.86. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -0.75, a PEG ratio of 0.28 and a beta of 2.10.

CommScope (NASDAQ:COMM) last issued its earnings results on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share 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 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. Equities research analysts anticipate that CommScope Holding Company, Inc. will post 0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC increased its position in shares of CommScope by 357.9% during the first quarter. Headlands Technologies LLC now owns 23,953 shares of the communications equipment provider’s stock worth $31,000 after acquiring an additional 18,722 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of CommScope during the third quarter worth approximately $31,000. Allspring Global Investments Holdings LLC boosted its position 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 worth $34,000 after buying an additional 25,212 shares during the period. Creative Planning acquired a new stake in CommScope in the third quarter worth approximately $73,000. Finally, Fore Capital LLC lifted its position in CommScope by 36.5% in the second quarter. Fore Capital LLC now owns 74,841 shares of the communications equipment provider’s stock worth $92,000 after purchasing an additional 20,000 shares during the period. Institutional investors and hedge funds 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.