Citigroup Increases Commscope (COMM) Price Target to $45.00
Commscope (NASDAQ:COMM) had its price target boosted by Citigroup to $45.00 in a research report issued on Thursday, The Fly reports. The firm currently has a “buy” rating on the communications equipment provider’s stock. Citigroup’s price objective indicates a potential upside of 15.47% from the company’s current price.
Several other research firms have also recently commented on COMM. BidaskClub cut Commscope from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 20th. Northland Securities restated a “hold” rating on shares of Commscope in a research note on Friday, November 10th. Jefferies Group restated a “buy” rating and issued a $40.00 target price on shares of Commscope in a research note on Wednesday, September 20th. Zacks Investment Research upgraded Commscope from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. Finally, ValuEngine cut Commscope from a “buy” rating to a “hold” rating in a research note on Saturday, November 4th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $40.80.
Commscope (NASDAQ COMM) traded up $0.13 during trading hours on Thursday, hitting $38.97. The stock had a trading volume of 2,203,700 shares, compared to its average volume of 1,564,111. Commscope has a fifty-two week low of $30.95 and a fifty-two week high of $42.75. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.78 and a quick ratio of 2.10. The company has a market cap of $7,430.00, a PE ratio of 39.36, a PEG ratio of 2.55 and a beta of 1.20.
In other Commscope news, insider Marvin S. Edwards, Jr. sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $38.66, for a total transaction of $1,933,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frank M. Drendel sold 5,284 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $38.01, for a total value of $200,844.84. The disclosure for this sale can be found here. Insiders have sold a total of 180,284 shares of company stock worth $6,807,245 in the last ninety days. Insiders own 3.33% of the company’s stock.
Several hedge funds have recently bought and sold shares of COMM. Comerica Bank increased its holdings in shares of Commscope by 55.8% during the 2nd quarter. Comerica Bank now owns 8,046 shares of the communications equipment provider’s stock worth $285,000 after acquiring an additional 2,883 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Commscope during the 2nd quarter worth approximately $216,000. Principal Financial Group Inc. increased its holdings in shares of Commscope by 16.6% during the 2nd quarter. Principal Financial Group Inc. now owns 43,261 shares of the communications equipment provider’s stock worth $1,645,000 after acquiring an additional 6,172 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of Commscope during the 2nd quarter worth approximately $38,211,000. Finally, AXA increased its holdings in shares of Commscope by 1.6% during the 2nd quarter. AXA now owns 67,158 shares of the communications equipment provider’s stock worth $2,554,000 after acquiring an additional 1,058 shares during the last quarter.
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Commscope Company Profile
CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.
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