Brokerages Set CommScope Holding Company, Inc. (NASDAQ:COMM) Target Price at $4.75

CommScope Holding Company, Inc. (NASDAQ:COMM) has been given a consensus recommendation of “Reduce” by the five ratings firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $4.75.

COMM has been the subject of several recent analyst reports. Raymond James downgraded CommScope from a “market perform” rating to an “underperform” rating in a research report on Monday, January 6th. StockNews.com upgraded shares of CommScope from a “hold” rating to a “buy” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. upgraded shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a research report on Tuesday, January 14th. Morgan Stanley cut shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a research note on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $7.00 price target on shares of CommScope in a research note on Thursday, February 27th.

CommScope Price Performance

Shares of COMM opened at $3.36 on Friday. The firm has a 50 day simple moving average of $5.05 and a two-hundred day simple moving average of $5.34. The company has a market cap of $727.64 million, a P/E ratio of -0.76, a P/E/G ratio of 0.41 and a beta of 1.98. CommScope has a one year low of $0.86 and a one year high of $7.19.

Hedge Funds Weigh In On CommScope

Several institutional investors and hedge funds have recently added to or reduced their stakes in COMM. JPMorgan Chase & Co. lifted its holdings in shares of CommScope by 151.9% during the third quarter. JPMorgan Chase & Co. now owns 900,089 shares of the communications equipment provider’s stock worth $5,500,000 after purchasing an additional 542,794 shares during the period. State Street Corp raised its position in CommScope by 9.2% during the 3rd quarter. State Street Corp now owns 4,588,286 shares of the communications equipment provider’s stock worth $28,034,000 after purchasing an additional 387,466 shares during the last quarter. SG Americas Securities LLC lifted its holdings in CommScope by 130.6% during the 4th quarter. SG Americas Securities LLC now owns 45,650 shares of the communications equipment provider’s stock worth $238,000 after buying an additional 25,855 shares during the period. Swiss National Bank bought a new stake in shares of CommScope in the 4th quarter valued at about $2,212,000. Finally, Franklin Resources Inc. acquired a new stake in shares of CommScope in the third quarter valued at about $755,000. 88.04% of the stock is currently owned by institutional investors and hedge funds.

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.