Today’s Price Action: Could Commscope Holding Company Inc Lose its Strength? The Stock Reaches All-Time High

Today's Price Action: Could Commscope Holding Company Inc Lose its Strength? The Stock Reaches All Time High

The stock of Commscope Holding Company Inc (NASDAQ:COMM) reached all time high today, Nov, 15 and still has $59.08 target or 69.00% above today’s $34.96 share price. This indicates more upside for the $7.00B company. This technical setup was reported by Barchart.com. If the $59.08 PT is reached, the company will be worth $4.83 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. About 568,804 shares traded hands. Commscope Holding Company Inc (NASDAQ:COMM) has risen 23.10% since April 13, 2016 and is uptrending. It has outperformed by 19.17% 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. $42.50 is the highest target while $22 is the lowest. The $34.55 average target is -1.17% below today’s ($34.96) stock price. CommScope Holding has been the topic of 18 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Northland Capital maintained the shares of COMM in a report on Tuesday, November 10 with “Market Perform” rating. The firm has “Buy” rating given on Friday, July 24 by Drexel Hamilton. The company was initiated on Friday, June 17 by BTIG Research. The rating was maintained by Barclays Capital on Tuesday, November 10 with “Overweight”. The firm has “Outperform” rating by Raymond James given on Tuesday, February 16. The firm has “Buy” rating given on Monday, May 9 by Goldman Sachs. As per Tuesday, September 20, the company rating was initiated by Morgan Stanley. As per Thursday, December 17, the company rating was upgraded by JP Morgan. The firm has “Market Perform” rating by Northland Capital given on Wednesday, September 30. Cross Research upgraded Commscope Holding Company Inc (NASDAQ:COMM) on Monday, February 22 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 increased to 2.12 in Q2 2016. Its up 1.31, from 0.81 in 2016Q1. The ratio is positive, 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.
Raymond James Associate has invested 0% of its portfolio in Commscope Holding Company Inc (NASDAQ:COMM). Driehaus Ltd Liability Corp, a Illinois-based fund reported 6,567 shares. Partner Investment Management L P last reported 26,464 shares in the company. The New York-based Cannell Peter B & Company has invested 2.1% in Commscope Holding Company Inc (NASDAQ:COMM). D E Shaw & holds 0.05% or 918,147 shares in its portfolio. Advisors Asset Mngmt, a Colorado-based fund reported 18,594 shares. Moreover, Alliancebernstein Limited Partnership has 0.05% invested in Commscope Holding Company Inc (NASDAQ:COMM) for 1.86M shares. Public Employees Retirement Association Of Colorado has invested 0.01% of its portfolio in Commscope Holding Company Inc (NASDAQ:COMM). Credit Agricole S A owns 22,877 shares or 0% of their US portfolio. Envestnet Asset Mgmt Inc last reported 1,361 shares in the company. Finemark Savings Bank, a Florida-based fund reported 1,010 shares. Pnc Finance Serv accumulated 0% or 892 shares. Moreover, Plante Moran Financial Advsr Ltd Liability has 0.02% invested in Commscope Holding Company Inc (NASDAQ:COMM) for 1,000 shares. International Gru holds 0% of its portfolio in Commscope Holding Company Inc (NASDAQ:COMM) for 3,156 shares. Nomura Asset Com holds 0% of its portfolio in Commscope Holding Company Inc (NASDAQ:COMM) for 2,530 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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