CommScope (NASDAQ:COMM) Stock Rating Upgraded by JPMorgan Chase & Co.

CommScope (NASDAQ:COMM) was upgraded by equities research analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued on Tuesday,Finviz reports. The brokerage presently has a $5.00 price target on the communications equipment provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 1.63% from the stock’s previous close.

Several other analysts have also issued reports on the stock. Morgan Stanley lowered shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price target on the stock. in a research report on Tuesday, December 17th. Raymond James lowered CommScope from a “market perform” rating to an “underperform” rating in a research note on Monday, January 6th. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, CommScope currently has a consensus rating of “Hold” and an average target price of $3.00.

CommScope Trading Down 1.2 %

NASDAQ COMM opened at $4.92 on Tuesday. CommScope has a 1 year low of $0.86 and a 1 year high of $7.19. The company has a fifty day simple moving average of $5.21 and a 200 day simple moving average of $4.51. The company has a market cap of $1.06 billion, a P/E ratio of -1.11 and a beta of 1.92.

CommScope (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.38). The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.42 billion. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. CommScope’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 EPS. Equities research analysts forecast that CommScope will post -0.77 EPS for the current fiscal year.

Institutional Trading of CommScope

Large investors have recently bought and sold shares of the stock. Diversified Trust Co lifted its holdings in shares of CommScope by 11.1% during the fourth quarter. Diversified Trust Co now owns 48,405 shares of the communications equipment provider’s stock valued at $252,000 after acquiring an additional 4,827 shares during the period. JPMorgan Chase & Co. boosted its position in CommScope by 151.9% in the third quarter. JPMorgan Chase & Co. now owns 900,089 shares of the communications equipment provider’s stock valued at $5,500,000 after buying an additional 542,794 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of CommScope during the third quarter worth approximately $755,000. Geode Capital Management LLC raised its stake in shares of CommScope by 3.1% in the third quarter. Geode Capital Management LLC now owns 5,111,866 shares of the communications equipment provider’s stock valued at $31,239,000 after acquiring an additional 155,166 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in CommScope during the 3rd quarter worth approximately $460,000. 88.04% of the stock is currently owned by institutional investors.

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.