Shares of ADTRAN, Inc. (NASDAQ:ADTN) have received a consensus rating of “Buy” from the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $24.14.

A number of equities analysts have weighed in on ADTN shares. Zacks Investment Research raised ADTRAN from a “hold” rating to a “strong-buy” rating and set a $25.00 target price for the company in a research report on Friday, July 21st. Northland Securities reissued a “buy” rating on shares of ADTRAN in a research report on Friday, July 21st. BidaskClub lowered ADTRAN from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Needham & Company LLC boosted their target price on ADTRAN from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. Finally, Cowen and Company reissued a “market perform” rating and issued a $18.00 target price (up previously from $16.00) on shares of ADTRAN in a research report on Saturday, July 22nd.

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ADTRAN (ADTN) traded up 1.61% during trading on Wednesday, reaching $22.05. 219,783 shares of the company traded hands. ADTRAN has a 52 week low of $17.55 and a 52 week high of $24.05. The company’s 50-day moving average price is $22.30 and its 200 day moving average price is $20.93. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 27.53 and a beta of 0.68.

ADTRAN (NASDAQ:ADTN) last issued its earnings results on Tuesday, July 18th. The communications equipment provider reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.11. ADTRAN had a return on equity of 8.39% and a net margin of 5.68%. The business had revenue of $184.67 million during the quarter, compared to analyst estimates of $183.05 million. During the same quarter in the previous year, the firm earned $0.21 EPS. On average, equities research analysts expect that ADTRAN will post $0.85 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd were paid a dividend of $0.09 per share. The ex-dividend date was Tuesday, August 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.63%. ADTRAN’s dividend payout ratio is currently 43.90%.

In other ADTRAN news, SVP Michael Foliano sold 24,000 shares of the business’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $23.77, for a total transaction 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 approximately $128,762.09. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.96% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in ADTN. BlackRock Inc. grew its stake in shares of ADTRAN by 75,959.4% during the 1st quarter. BlackRock Inc. now owns 5,930,353 shares of the communications equipment provider’s stock valued at $123,054,000 after purchasing an additional 5,922,556 shares during the period. Victory Capital Management Inc. grew its stake in shares of ADTRAN by 10.2% during the 1st quarter. Victory Capital Management Inc. now owns 3,835,026 shares of the communications equipment provider’s stock valued at $79,577,000 after purchasing an additional 356,159 shares during the period. Renaissance Technologies LLC grew its stake in shares of ADTRAN by 25.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,620,128 shares of the communications equipment provider’s stock valued at $33,456,000 after purchasing an additional 328,600 shares during the period. Vanguard Group Inc. grew its stake in shares of ADTRAN by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 4,434,998 shares of the communications equipment provider’s stock valued at $92,026,000 after purchasing an additional 252,733 shares during the period. Finally, Northern Trust Corp grew its stake in shares of ADTRAN by 37.1% during the 2nd quarter. Northern Trust Corp now owns 914,639 shares of the communications equipment provider’s stock valued at $18,886,000 after purchasing an additional 247,413 shares during the period. Institutional investors and hedge funds own 89.48% of the company’s stock.

About ADTRAN

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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