The stock of Commscope Holding Company Inc (NASDAQ:COMM) hit a new 52-week high and has $38.00 target or 4.00% above today’s $36.54 share price. The 7 months bullish chart indicates low risk for the $6.95 billion company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $38.00 price target is reached, the company will be worth $278.00M 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 1.05M shares traded hands. Commscope Holding Company Inc (NASDAQ:COMM) has risen 33.30% since April 26, 2016 and is uptrending. It has outperformed by 28.04% the S&P500.
Analysts await Commscope Holding Company Inc (NASDAQ:COMM) to report earnings on February, 17. They expect $0.54 EPS, up 38.46% or $0.15 from last year’s $0.39 per share. COMM’s profit will be $102.71M for 16.92 P/E if the $0.54 EPS becomes a reality. After $0.79 actual EPS reported by Commscope Holding Company Inc for the previous quarter, Wall Street now forecasts -31.65% 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. CommScope Holding has been the topic of 18 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Raymond James upgraded Commscope Holding Company Inc (NASDAQ:COMM) on Tuesday, February 16 to “Outperform” rating. The stock of Commscope Holding Company Inc (NASDAQ:COMM) earned “Overweight” rating by JP Morgan on Thursday, December 17. The rating was initiated by Drexel Hamilton on Friday, July 24 with “Buy”. Barclays Capital maintained it with “Overweight” rating and $30 target price in Tuesday, November 10 report. Northland Capital maintained the stock with “Market Perform” rating in Tuesday, November 10 report. Cross Research upgraded Commscope Holding Company Inc (NASDAQ:COMM) on Monday, February 22 to “Buy” rating. BTIG Research initiated Commscope Holding Company Inc (NASDAQ:COMM) rating on Friday, June 17. BTIG Research has “Buy” rating and $41 price target. The company was reinitiated on Friday, September 18 by Goldman Sachs. The firm has “Equal-Weight” rating given on Tuesday, September 20 by Morgan Stanley. Goldman Sachs upgraded Commscope Holding Company Inc (NASDAQ:COMM) rating on Monday, May 9. Goldman Sachs has “Buy” rating and $35 price target.
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 Q2 2016. Its down 0.08, from 2.12 in 2016Q1. The ratio dived, 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.
Zacks Invest reported 53,208 shares or 0.05% of all its holdings. Quantitative Systematic Strategies Ltd owns 6,840 shares or 0.1% of their US portfolio. The Delaware-based Blackrock Advsrs Limited has invested 0% in Commscope Holding Company Inc (NASDAQ:COMM). Bluecrest Cap Mgmt accumulated 0.01% or 11,417 shares. Vaughan Nelson Investment Mngmt Limited Partnership has invested 0.32% of its portfolio in Commscope Holding Company Inc (NASDAQ:COMM). Voya Inv Lc holds 0% of its portfolio in Commscope Holding Company Inc (NASDAQ:COMM) for 56,455 shares. D E Shaw And holds 918,147 shares or 0.05% of its portfolio. Moreover, State Board Of Administration Of Florida Retirement Sys has 0.01% invested in Commscope Holding Company Inc (NASDAQ:COMM) for 118,458 shares. Partner Inv Lp holds 1.34% of its portfolio in Commscope Holding Company Inc (NASDAQ:COMM) for 26,464 shares. Wealthtrust last reported 0% of its portfolio in the stock. Verition Fund Mgmt Limited Liability Company has 0.04% invested in the company for 9,658 shares. Moreover, Counsel Port Incorporated has 0.35% invested in Commscope Holding Company Inc (NASDAQ:COMM) for 115,284 shares. Route One Inv L P has 6.30M shares for 10.54% of their US portfolio. Corvex Mngmt Ltd Partnership accumulated 5.26M shares or 2.19% of the stock. Chase Inv Counsel Corp, a Virginia-based fund reported 28,365 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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