ADTRAN, Inc. (NASDAQ:ADTN) has received a consensus rating of “Buy” from the eight brokerages that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $23.50.

Several equities analysts have recently issued reports on ADTN shares. MKM Partners reiterated a “buy” rating and set a $26.50 price objective (down from $27.50) on shares of ADTRAN in a research report on Monday, April 24th. Northland Securities reiterated a “buy” rating on shares of ADTRAN in a research report on Friday, July 21st. Cowen and Company reiterated a “market perform” rating and set a $18.00 price objective (up from $16.00) on shares of ADTRAN in a research report on Saturday, July 22nd. Argus upgraded ADTRAN from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Thursday, April 20th. Finally, Needham & Company LLC reduced their price objective on ADTRAN from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, April 20th.

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In other ADTRAN news, SVP Michael Foliano sold 24,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $23.77, for a total value of $570,480.00. Following the completion of the sale, the senior vice president now directly owns 5,417 shares in the company, valued at $128,762.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.96% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its stake in ADTRAN by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 5,350 shares of the communications equipment provider’s stock worth $111,000 after buying an additional 110 shares during the period. Texas Permanent School Fund increased its stake in ADTRAN by 0.4% in the second quarter. Texas Permanent School Fund now owns 35,282 shares of the communications equipment provider’s stock worth $729,000 after buying an additional 153 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in ADTRAN by 1.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 14,670 shares of the communications equipment provider’s stock worth $304,000 after buying an additional 180 shares during the period. Louisiana State Employees Retirement System increased its stake in ADTRAN by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 19,800 shares of the communications equipment provider’s stock worth $411,000 after buying an additional 300 shares during the period. Finally, Arizona State Retirement System increased its stake in ADTRAN by 1.2% in the first quarter. Arizona State Retirement System now owns 25,245 shares of the communications equipment provider’s stock worth $524,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 91.05% of the company’s stock.

ADTRAN (NASDAQ:ADTN) remained flat at $21.80 during mid-day trading on Friday. The company had a trading volume of 359,184 shares. The firm has a market capitalization of $1.04 billion, a PE ratio of 27.22 and a beta of 0.65. The stock’s 50 day moving average price is $21.69 and its 200-day moving average price is $20.93. ADTRAN has a 1-year low of $17.55 and a 1-year high of $24.05.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings data on Tuesday, July 18th. The communications equipment provider reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.11. The business had revenue of $184.67 million during the quarter, compared to the consensus estimate of $183.05 million. ADTRAN had a return on equity of 8.39% and a net margin of 5.68%. During the same period in the previous year, the firm posted $0.21 earnings per share. Equities analysts predict that ADTRAN will post $0.81 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd will be given a dividend of $0.09 per share. The ex-dividend date is Tuesday, August 1st. This represents a $0.36 annualized dividend and a dividend yield of 1.65%. ADTRAN’s dividend payout ratio is presently 43.90%.

ADTRAN Company Profile

ADTRAN, Inc (ADTRAN) is a provider of networking and communications equipment. The Company’s solutions enable voice, data, video and Internet communications across a range of network infrastructures. It operates through two segments: Network Solutions and Services & Support. Network Solutions includes software and hardware products that enable CSPs and enterprise customers to realize a fully connected world.

Analyst Recommendations for ADTRAN (NASDAQ:ADTN)

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