Stock Mover of the Day: Could Commscope Holding Company Inc Go Down After Achieving Record High?

Stock Mover of the Day: Could Commscope Holding Company Inc Go Down After Achieving Record High?

The stock of Commscope Holding Company Inc (NASDAQ:COMM) reached all time high today, Nov, 10 and still has $41.92 target or 22.00% above today’s $34.36 share price. This indicates more upside for the $6.59 billion company. This technical setup was reported by Barchart.com. If the $41.92 PT is reached, the company will be worth $1.45B 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. About 407,823 shares traded hands. Commscope Holding Company Inc (NASDAQ:COMM) has risen 21.78% since April 8, 2016 and is uptrending. It has outperformed by 16.13% the S&P500.

Analysts await Commscope Holding Company Inc (NASDAQ:COMM) to report earnings on November, 14. They expect $0.69 earnings per share, up 35.29% or $0.18 from last year’s $0.51 per share. COMM’s profit will be $132.26M for 12.46 P/E if the $0.69 EPS becomes a reality. After $0.71 actual earnings per share 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. CommScope Holding has been the topic of 18 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was upgraded by Cross Research to “Buy” on Monday, February 22. As per Tuesday, February 16, the company rating was upgraded by Raymond James. As per Tuesday, September 20, the company rating was initiated by Morgan Stanley. The stock has “Market Perform” rating given by Northland Capital on Wednesday, September 30. BTIG Research initiated Commscope Holding Company Inc (NASDAQ:COMM) on Friday, June 17 with “Buy” rating. On Monday, May 9 the stock rating was upgraded by Goldman Sachs to “Buy”. The stock of Commscope Holding Company Inc (NASDAQ:COMM) has “Overweight” rating given on Tuesday, November 10 by Barclays Capital. The rating was reinitiated by Goldman Sachs with “Neutral” on Friday, September 18. The stock of Commscope Holding Company Inc (NASDAQ:COMM) earned “Market Perform” rating by Northland Capital on Tuesday, November 10. The firm has “Overweight” rating given on Thursday, December 17 by JP Morgan.

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.
Williams Jones & Assoc Ltd owns 86,615 shares or 0.12% of their US portfolio. Morgan Stanley, a New York-based fund reported 45,969 shares. Hightower Advsr Ltd Liability Company, a Illinois-based fund reported 24,454 shares. Goldman Sachs Grp Inc accumulated 530,971 shares or 0.01% of the stock. National Bank Of New York Mellon Corporation accumulated 0% or 484,723 shares. Summit Secs Group Inc Limited Liability Com has 0.31% invested in the company for 18,506 shares. Advsr Asset last reported 18,594 shares in the company. Amici Cap Limited Co has 97,000 shares for 0.57% of their US portfolio. Public Employees Retirement Association Of Colorado holds 0.01% of its portfolio in Commscope Holding Company Inc (NASDAQ:COMM) for 29,563 shares. Jennison Assocs Limited Liability Company last reported 770,199 shares in the company. Los Angeles Capital Equity Inc has 0.05% invested in the company for 206,272 shares. Price T Rowe Assoc Md accumulated 0% or 45,790 shares. Ascend Ltd Liability Corporation reported 264,756 shares or 0.54% of all its holdings. Moreover, Oppenheimer & Inc has 0.05% invested in Commscope Holding Company Inc (NASDAQ:COMM) for 54,802 shares. Nomura Asset Limited last reported 0% of its portfolio in the stock.

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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