Are Commscope (NASDAQ:COMM) Shares Worth Your Time and Dime Following Recent JP Morgan Upgrade?


Commscope (NASDAQ:COMM) Stock Upgrade

The rating for shares of Commscope (NASDAQ:COMM) were hiked by investment analysts at JP Morgan from a “Neutral” rating to a “Overweight” rating in recent note released on 17 December.

From a total of 10 analysts covering CommScope Holding (NASDAQ:COMM) stock, 8 rate it a ”Buy”, 0 a “Sell”, and 6 a ”Hold”. This means that 57% of the ratings are positive. The highest target price is $38 while the lowest target price is $22. The mean of all analyst targets is $32.1 with a 29.79% above today’s ($26.05) stock price. CommScope Holding was the topic of 11 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. Barclays Capital maintained shares on November 10 with “Overweight” rating. Goldman Sachs reinitiated COMM stock in a recent report from September 18 with “Neutral” rating.

Approximately 695,794 shares of stock traded hands. Commscope Holding Company Inc (NASDAQ:COMM) has declined 17.47% since May 14, 2015 and is downtrending. It has underperformed by 15.21% the S&P500.

The overall sentiment of institutions has decreased to 1.11 in Q2 2015. Its down 0.30, from 1.41 in 2015Q2. The ratio fall, as 28 institutions have sold all the shares of Commscope Holding Company Inc that they owned while 69 funds have taken shares off the table. 43 funds have purchased shares for the first time while 65 added to their positions. These institutions now hold 199.54 million shares or 6.15% more than the 187.97 million shares they owned in 2015Q2.

The Fund Chieftain Capital Management Inc. currently is holding shares equating to 20.7% of its total portfolio in Commscope Holding Company Inc representing a total of 13.65 million shares. Another fund,Carlyle Group L.P., is holding a total of 61.22 million shares equating to 13.3% of their holdings. Additionally, Overbrook Management Corp has a 1.81 million share stake in Commscope Holding Company Inc which represents 8.39% of their total portfolio. The Fund, Rivulet Capital Llc, based out of New York, has also built up a stake in the stock, which represents a total of 7.52% of their total portfolio. Finally Park Presidio Capital Llc, a fund which is based in the state of California reported a total holdings of 1.06 million shares.

CommScope Holding Company, Inc. is provider of connectivity and infrastructure solutions for wireless, business enterprise and residential broadband networks. The company has a market cap of $4.69 billion. The Firm provides radio frequency solutions, connectivity and cabling platforms, data center and building infrastructure, and broadband access solutions. It has 97.1 P/E ratio. The Firm operates through three divisions: Wireless, Enterprise and Broadband.

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.”