Commscope (COMM) Cut to “Strong Sell” at ValuEngine

ValuEngine cut shares of Commscope (NASDAQ:COMM) from a sell rating to a strong sell rating in a research note released on Saturday morning, ValuEngine reports.

COMM has been the topic of a number of other research reports. Zacks Investment Research raised shares of Commscope from a sell rating to a hold rating in a research report on Tuesday, January 8th. Rosenblatt Securities reaffirmed a hold rating and set a $24.00 price target on shares of Commscope in a research report on Friday, February 22nd. Morgan Stanley set a $22.00 price target on shares of Commscope and gave the company a hold rating in a research report on Friday, February 22nd. BidaskClub cut shares of Commscope from a sell rating to a strong sell rating in a research report on Saturday, March 16th. Finally, Deutsche Bank started coverage on shares of Commscope in a research report on Friday, April 12th. They set a buy rating and a $40.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Commscope has a consensus rating of Hold and an average price target of $29.80.

Shares of COMM opened at $26.68 on Friday. The company has a current ratio of 2.72, a quick ratio of 2.03 and a debt-to-equity ratio of 2.27. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 2.44 and a beta of 1.15. Commscope has a 12 month low of $15.09 and a 12 month high of $41.49.

Commscope (NASDAQ:COMM) last issued its quarterly earnings results on Thursday, February 21st. The communications equipment provider reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.08. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Commscope had a net margin of 3.07% and a return on equity of 23.55%. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 earnings per share. As a group, sell-side analysts predict that Commscope will post 2.68 EPS for the current year.

In other news, SVP Peter U. Karlsson sold 6,517 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $22.63, for a total transaction of $147,479.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Frank M. Drendel sold 280,143 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $23.61, for a total transaction of $6,614,176.23. The disclosure for this sale can be found here. 3.35% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Tibra Equities Europe Ltd acquired a new stake in shares of Commscope in the 1st quarter worth about $226,000. Geode Capital Management LLC raised its holdings in shares of Commscope by 7.9% in the 4th quarter. Geode Capital Management LLC now owns 2,092,326 shares of the communications equipment provider’s stock worth $34,272,000 after acquiring an additional 153,499 shares during the last quarter. Norges Bank acquired a new stake in shares of Commscope in the 4th quarter worth about $29,617,000. Dimensional Fund Advisors LP raised its holdings in shares of Commscope by 24.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,780,801 shares of the communications equipment provider’s stock worth $29,187,000 after acquiring an additional 350,675 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Commscope by 4.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 87,592 shares of the communications equipment provider’s stock worth $1,436,000 after acquiring an additional 3,982 shares during the last quarter. Institutional investors own 99.84% of the company’s stock.

Commscope Company Profile

CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.

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Analyst Recommendations for Commscope (NASDAQ:COMM)

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