Price Action To Observe: What’s Ahead for Commscope Holding Company Inc After Achieving Record High?

Price Action To Observe: What's Ahead for Commscope Holding Company Inc After Achieving Record High?

The stock of Commscope Holding Company Inc (NASDAQ:COMM) reached all time high today, Nov, 21 and still has $57.85 target or 63.00% above today’s $35.49 share price. This indicates more upside for the $6.94 billion company. This technical setup was reported by If the $57.85 PT is reached, the company will be worth $4.37 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 0.11% or $0.04 during the last trading session, hitting $35.49. About 2.01M shares traded hands. Commscope Holding Company Inc (NASDAQ:COMM) has risen 33.17% since April 19, 2016 and is uptrending. It has outperformed by 29.31% the S&P500.

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. CommScope Holding has been the topic of 18 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The firm has “Market Perform” rating given on Tuesday, November 10 by Northland Capital. BTIG Research initiated the stock with “Buy” rating in Friday, June 17 report. The rating was upgraded by Raymond James to “Outperform” on Tuesday, February 16. On Friday, July 24 the stock rating was initiated by Drexel Hamilton with “Buy”. The stock of Commscope Holding Company Inc (NASDAQ:COMM) earned “Market Perform” rating by Northland Capital on Wednesday, September 30. Morgan Stanley initiated Commscope Holding Company Inc (NASDAQ:COMM) on Tuesday, September 20 with “Equal-Weight” rating. On Monday, February 22 the stock rating was upgraded by Cross Research to “Buy”. As per Tuesday, November 10, the company rating was maintained by Barclays Capital. JP Morgan upgraded the shares of COMM in a report on Thursday, December 17 to “Overweight” rating. Goldman Sachs upgraded Commscope Holding Company Inc (NASDAQ:COMM) on Monday, May 9 to “Buy” rating.

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 decreased to 2.04 in 2016 Q2. Its down 0.08, from 2.12 in 2016Q1. The ratio turned negative, 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.
Shellback Cap Ltd Partnership has 4.22% invested in the company for 1.06 million shares. The Connecticut-based Aqr Cap Limited Liability Company has invested 0% in Commscope Holding Company Inc (NASDAQ:COMM). Blue Ridge Cap Ltd Liability Corporation last reported 1.51% of its portfolio in the stock. Overbrook Mngmt accumulated 7.78% or 1.20 million shares. Route One Comm Ltd Partnership holds 10.54% or 6.30 million shares in its portfolio. Bancorporation Of America De holds 0.01% of its portfolio in Commscope Holding Company Inc (NASDAQ:COMM) for 1.84 million shares. Moreover, Trexquant Invest Ltd Partnership has 0.11% invested in Commscope Holding Company Inc (NASDAQ:COMM) for 28,117 shares. Makaira Prns Limited Liability has 1.54M shares for 6.99% of their US portfolio. Macquarie Gru Limited accumulated 0.13% or 2.20M shares. Citigroup Inc accumulated 5,416 shares or 0% of the stock. Blackrock Limited Liability holds 98,748 shares or 0% of its portfolio. Manufacturers Life Insurance Communications The, a Ontario – Canada-based fund reported 5,439 shares. State Board Of Administration Of Florida Retirement Sys last reported 118,458 shares in the company. Moreover, Rhumbline Advisers has 0.01% invested in Commscope Holding Company Inc (NASDAQ:COMM) for 122,044 shares. California Pub Employees Retirement Systems has invested 0.01% of its portfolio in Commscope Holding Company Inc (NASDAQ:COMM).

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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