ADTRAN (NASDAQ:ADTN) Upgraded to “Hold” at Zacks Research

by · The Cerbat Gem

Zacks Research upgraded shares of ADTRAN (NASDAQ:ADTN – Free Report) from a strong sell rating to a hold rating in a research note released on Monday,Zacks reports.

A number of other equities analysts also recently issued reports on the company. Craig Hallum set a $12.00 price target on ADTRAN in a research report on Wednesday, August 5th. Rosenblatt Securities lowered their price target on ADTRAN from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Needham & Company LLC dropped their price target on ADTRAN from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, July 23rd. B. Riley Financial reaffirmed a “buy” rating and issued a $21.00 price objective (down from $23.00) on shares of ADTRAN in a research report on Thursday, July 23rd. Finally, Wall Street Zen cut shares of ADTRAN from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $14.67.

Check Out Our Latest Stock Report on ADTRAN

ADTRAN Stock Performance

ADTN stock opened at $7.62 on Monday. The firm has a market cap of $620.88 million, a price-to-earnings ratio of -27.21, a PEG ratio of 4.38 and a beta of 1.48. The company has a quick ratio of 1.19, a current ratio of 1.79 and a debt-to-equity ratio of 1.69. ADTRAN has a twelve month low of $6.73 and a twelve month high of $19.98. The business’s fifty day simple moving average is $7.59 and its two-hundred day simple moving average is $11.99.

ADTRAN (NASDAQ:ADTN – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The communications equipment provider reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.06). The firm had revenue of $281.15 million during the quarter, compared to the consensus estimate of $290.19 million. ADTRAN had a negative net margin of 2.29% and a positive return on equity of 14.24%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. Analysts predict that ADTRAN will post 0.16 earnings per share for the current year.

Institutional Trading of ADTRAN

A number of hedge funds and other institutional investors have recently made changes to their positions in ADTN. BlackRock Inc. acquired a new position in ADTRAN during the second quarter valued at $108,923,000. Dimensional Fund Advisors LP grew its position in ADTRAN by 50.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,337,028 shares of the communications equipment provider’s stock worth $16,817,000 after purchasing an additional 448,848 shares during the period. SG Americas Securities LLC raised its stake in shares of ADTRAN by 53.6% during the 1st quarter. SG Americas Securities LLC now owns 1,316,049 shares of the communications equipment provider’s stock valued at $16,556,000 after buying an additional 459,005 shares during the last quarter. William Blair Investment Management LLC purchased a new position in shares of ADTRAN during the 2nd quarter valued at about $15,276,000. Finally, Sei Investments Co. lifted its holdings in shares of ADTRAN by 162.0% in the 1st quarter. Sei Investments Co. now owns 1,105,110 shares of the communications equipment provider’s stock valued at $13,902,000 after buying an additional 683,262 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Company Profile

(Get Free Report)

ADTRAN Holdings, Inc is a communications networking company that develops hardware, software and services for telecommunications providers, enterprises and private networks. Its solutions help customers deploy and manage broadband, fiber, Ethernet, fixed wireless and other access networks.

The company’s portfolio includes fiber access platforms, optical networking systems, broadband gateways, routers, switches, Wi-Fi equipment, network management software and cloud-based tools. ADTRAN also provides professional, support and managed services designed to help communications service providers build and operate scalable networks.

Founded in 1985 and headquartered in Huntsville, Alabama, ADTRAN serves customers across North America, Europe and other international markets.

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