ADTRAN (NASDAQ:ADTN) Cut to “Hold” at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen cut shares of ADTRAN (NASDAQ:ADTN – Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Other equities research analysts have also issued reports about the company. Rosenblatt Securities dropped their price target on ADTRAN from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Needham & Company LLC dropped their price target on ADTRAN from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Finally, Wolfe Research began coverage on ADTRAN in a research report on Monday, July 7th. They set a “peer perform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

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ADTRAN Stock Performance

Shares of ADTN opened at $9.14 on Friday. The business’s 50 day moving average is $8.35 and its two-hundred day moving average is $9.00. ADTRAN has a 52-week low of $4.62 and a 52-week high of $12.44. The firm has a market cap of $731.00 million, a price-to-earnings ratio of -5.38 and a beta of 1.32. The company has a quick ratio of 1.18, a current ratio of 2.02 and a debt-to-equity ratio of 1.37.

ADTRAN (NASDAQ:ADTN – Get Free Report) last announced its earnings results on Wednesday, May 7th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.05. ADTRAN had a negative return on equity of 20.07% and a negative net margin of 14.58%. During the same period last year, the business posted $0.02 EPS. The business’s quarterly revenue was up 9.5% on a year-over-year basis. Analysts forecast that ADTRAN will post -0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ADTN. Schonfeld Strategic Advisors LLC bought a new position in shares of ADTRAN in the fourth quarter worth $12,921,000. Royce & Associates LP grew its stake in shares of ADTRAN by 188.5% in the first quarter. Royce & Associates LP now owns 1,406,500 shares of the communications equipment provider’s stock worth $12,265,000 after purchasing an additional 919,000 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of ADTRAN by 325.4% in the first quarter. Invesco Ltd. now owns 1,183,180 shares of the communications equipment provider’s stock valued at $10,317,000 after buying an additional 905,056 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of ADTRAN by 591.5% in the fourth quarter. JPMorgan Chase & Co. now owns 863,807 shares of the communications equipment provider’s stock valued at $7,196,000 after buying an additional 738,893 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of ADTRAN in the fourth quarter valued at $6,095,000. Institutional investors own 80.56% of the company’s stock.

ADTRAN Company Profile

(Get Free Report)

ADTRAN Holdings, Inc, through its subsidiaries, provides networking and communications platforms, software, systems, and services in the United States, Germany, the United Kingdom, and internationally. It operates through two segments, Network Solutions, and Services & Support. It offers residential gateways; ethernet passive optical network ONUs; gigabit passive optical network/XGS-PON ONTs; traditional SSE, routers, and switches; edge cloud; carrier ethernet network interface devices; Optical Line Terminals; Packet Aggregation, Copper Access, and Oscilloquartz; optical transport and engine solutions; infrastructure monitoring solution; and training, professional, software, and managed services.

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