The stock of Commscope Holding Company Inc (NASDAQ:COMM) hit a new 52-week high and has $46.34 target or 40.00% above today’s $33.10 share price. The 7 months bullish chart indicates low risk for the $6.53B company. The 1-year high was reported on Nov, 8 by Barchart.com. If the $46.34 price target is reached, the company will be worth $2.61 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 117,126 shares traded hands. Commscope Holding Company Inc (NASDAQ:COMM) has risen 16.82% since April 5, 2016 and is uptrending. It has outperformed by 14.87% the S&P500.
Analysts await Commscope Holding Company Inc (NASDAQ:COMM) to report earnings on November, 14. They expect $0.69 EPS, up 35.29% or $0.18 from last year’s $0.51 per share. COMM’s profit will be $136.12 million for 11.99 P/E if the $0.69 EPS becomes a reality. After $0.71 actual EPS reported by Commscope Holding Company Inc for the previous quarter, Wall Street now forecasts -2.82% negative EPS growth.
Commscope Holding Company Inc (NASDAQ:COMM) Ratings Coverage
Out of 10 analysts covering CommScope Holding (NASDAQ:COMM), 8 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 80% are positive. $42.50 is the highest target while $22 is the lowest. The $34.55 average target is 4.38% above today’s ($33.1) stock price. CommScope Holding has been the topic of 18 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Northland Capital maintained the stock with “Market Perform” rating in Tuesday, November 10 report. The company was upgraded on Monday, February 22 by Cross Research. The firm has “Neutral” rating given on Friday, September 18 by Goldman Sachs. The stock has “Overweight” rating given by JP Morgan on Thursday, December 17. The firm has “Overweight” rating by Barclays Capital given on Tuesday, November 10. The stock of Commscope Holding Company Inc (NASDAQ:COMM) earned “Outperform” rating by Raymond James on Tuesday, February 16. The firm has “Market Perform” rating by Northland Capital given on Wednesday, September 30. BTIG Research initiated the stock with “Buy” rating in Friday, June 17 report. Morgan Stanley initiated it with “Equal-Weight” rating and $35 target price in Tuesday, September 20 report. Goldman Sachs upgraded the stock to “Buy” rating in Monday, May 9 report.
According to Zacks Investment Research, “CommScope Holding Inc. is a premier network infrastructure provider. The Company, through its subsidiaries, provides end-to-end solutions connecting technology and wireless and wired networks. It operates in three segments: Wireless, Enterprise, and Broadband. CommScope Holding Company, Inc. is headquartered in Hickory, North Carolina.”
Insitutional Activity: The institutional sentiment increased to 2.12 in 2016 Q2. Its up 1.31, from 0.81 in 2016Q1. The ratio improved, as 15 funds sold all Commscope Holding Company Inc shares owned while 43 reduced positions. 40 funds bought stakes while 83 increased positions. They now own 192.42 million shares or 1.89% less from 196.14 million shares in 2016Q1.
Fincl Architects Incorporated holds 0.01% of its portfolio in Commscope Holding Company Inc (NASDAQ:COMM) for 857 shares. Cannell Peter B And Incorporated has invested 2.1% of its portfolio in Commscope Holding Company Inc (NASDAQ:COMM). Corvex Mgmt L P reported 5.26 million shares or 2.19% of all its holdings. Blackrock holds 0% or 20,291 shares in its portfolio. Diam Ltd has invested 0.02% of its portfolio in Commscope Holding Company Inc (NASDAQ:COMM). Wellington Mgmt Gru Ltd Liability Partnership accumulated 12,151 shares or 0% of the stock. Ameriprise Inc reported 8,149 shares or 0% of all its holdings. Ngam Advsr L P has 53,780 shares for 0.02% of their US portfolio. Vaughan Nelson Investment L P has 805,175 shares for 0.32% of their US portfolio. Tiger Mngmt Limited Com has 800,134 shares for 8.01% of their US portfolio. Tudor Invest Corporation Et Al accumulated 0.04% or 64,371 shares. Glenmede Trust Na owns 16,507 shares or 0% of their US portfolio. Stifel Fincl Corporation has 12,305 shares for 0% of their US portfolio. Alyeska Inv Gp Lp has 0.65% invested in the company for 2.05M shares. Corsair Mgmt Limited Partnership holds 2.25% of its portfolio in Commscope Holding Company Inc (NASDAQ:COMM) for 476,791 shares.
COMM Company Profile
CommScope Holding Company, Inc., incorporated on October 22, 2010, is well-known provider of infrastructure solutions for wireless, business enterprise and residential broadband networks. The Firm operates through four divisions: Wireless, Enterprise, Broadband and Broadband Network Solutions (BNS). The Firm also makes coaxial and fiber optic cable for residential broadband networks. Through its Andrew brand, the Company provides merchant radio frequency (RF) wireless network connectivity solutions and small cell distributed antenna system (DAS) solutions. Through its SYSTIMAX, Uniprise and AMP NETCONNECT brands, the Company provides enterprise connectivity solutions, delivering an end-to-end physical layer solution, including connectivity and cables, enclosures, data center and network intelligence software, in-building wireless and network design services for enterprise applications and data centers.
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