ADTRAN (NASDAQ:ADTN) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
Other equities research analysts have also issued reports about the company. Jefferies Group reaffirmed a “hold” rating and set a $17.25 target price on shares of ADTRAN in a research report on Thursday, January 18th. Zacks Investment Research lowered ADTRAN from a “hold” rating to a “sell” rating in a research report on Wednesday, April 25th. Argus downgraded ADTRAN from a “buy” rating to a “hold” rating in a report on Thursday, April 19th. ValuEngine upgraded ADTRAN from a “sell” rating to a “hold” rating in a report on Thursday, April 26th. Finally, Northland Securities reiterated a “buy” rating and issued a $23.00 price target on shares of ADTRAN in a report on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $20.32.
Shares of ADTRAN opened at $14.75 on Wednesday, according to Marketbeat. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.36 and a quick ratio of 2.19. The firm has a market cap of $704.34 million, a price-to-earnings ratio of 43.24 and a beta of 0.61. ADTRAN has a twelve month low of $14.55 and a twelve month high of $14.77.
ADTRAN (NASDAQ:ADTN) last issued its earnings results on Tuesday, April 17th. The communications equipment provider reported ($0.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.15). The firm had revenue of $120.81 million for the quarter, compared to the consensus estimate of $126.20 million. ADTRAN had a net margin of 1.30% and a return on equity of 3.33%. During the same period last year, the firm earned $0.14 earnings per share. research analysts expect that ADTRAN will post -0.31 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the company. FIL Ltd increased its holdings in shares of ADTRAN by 12.3% in the 1st quarter. FIL Ltd now owns 1,441,103 shares of the communications equipment provider’s stock valued at $22,409,000 after acquiring an additional 158,110 shares during the period. Principal Financial Group Inc. increased its holdings in shares of ADTRAN by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 393,648 shares of the communications equipment provider’s stock valued at $6,121,000 after acquiring an additional 12,969 shares during the period. Koch Industries Inc. purchased a new position in shares of ADTRAN in the 1st quarter valued at $236,000. Quadrature Capital Ltd purchased a new position in shares of ADTRAN in the 1st quarter valued at $251,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of ADTRAN by 353.9% in the 1st quarter. Russell Investments Group Ltd. now owns 419,293 shares of the communications equipment provider’s stock valued at $6,520,000 after acquiring an additional 326,927 shares during the period. Institutional investors and hedge funds own 96.90% of the company’s stock.
ADTRAN Company Profile
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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