ADTRAN (NASDAQ:ADTN) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Friday, March 9th.
A number of other equities research analysts have also commented on the company. ValuEngine lowered ADTRAN from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. TheStreet lowered ADTRAN from a “b” rating to a “c+” rating in a research report on Wednesday, January 17th. Jefferies Group reiterated a “hold” rating and issued a $17.25 price target on shares of ADTRAN in a research report on Thursday, January 18th. Northland Securities reiterated a “buy” rating and issued a $23.00 price target on shares of ADTRAN in a research report on Thursday, January 18th. Finally, Goldman Sachs upgraded ADTRAN from a “sell” rating to a “neutral” rating and set a $17.00 target price on the stock in a research report on Monday, January 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. ADTRAN currently has a consensus rating of “Hold” and a consensus target price of $21.41.
Shares of ADTRAN stock traded down $0.35 during trading on Friday, reaching $15.20. 410,504 shares of the company’s stock were exchanged, compared to its average volume of 622,737. ADTRAN has a 1-year low of $15.05 and a 1-year high of $25.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.72 and a current ratio of 3.87. The stock has a market capitalization of $752.99, a P/E ratio of 19.20, a price-to-earnings-growth ratio of 2.88 and a beta of 0.62.
ADTRAN (NASDAQ:ADTN) last issued its earnings results on Tuesday, January 16th. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. ADTRAN had a return on equity of 7.95% and a net margin of 3.58%. The business had revenue of $126.52 million during the quarter, compared to analysts’ expectations of $125.90 million. research analysts forecast that ADTRAN will post 0.54 earnings per share for the current year.
Several institutional investors have recently modified their holdings of ADTN. State Street Corp grew its holdings in ADTRAN by 4.3% during the second quarter. State Street Corp now owns 1,332,947 shares of the communications equipment provider’s stock valued at $27,527,000 after purchasing an additional 54,671 shares during the period. Public Employees Retirement System of Ohio boosted its stake in ADTRAN by 5.8% during the second quarter. Public Employees Retirement System of Ohio now owns 6,804 shares of the communications equipment provider’s stock valued at $141,000 after buying an additional 373 shares during the period. Nationwide Fund Advisors boosted its stake in ADTRAN by 14.3% during the third quarter. Nationwide Fund Advisors now owns 223,618 shares of the communications equipment provider’s stock valued at $5,367,000 after buying an additional 27,942 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in ADTRAN during the third quarter valued at $1,504,000. Finally, Crossmark Global Holdings Inc. bought a new stake in ADTRAN during the third quarter valued at $211,000. 93.00% of the stock is owned by hedge funds and other institutional investors.
ADTRAN, Inc provides networking and communications equipment worldwide. The company operates through two segments, Network Solutions and Services & Support. It offers access and aggregation solutions, including network management and subscriber services control and orchestration software within a SD-access architecture; SDN-controlled programmable network elements; fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; fiber to the distribution point optical network units; optical line terminals; optical networking edge aggregation; and IP digital subscriber line access multiplexers.
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