Analysts Set ADTRAN, Inc. (ADTN) Price Target at $24.14
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.
ILLEGAL ACTIVITY NOTICE: “Analysts Set ADTRAN, Inc. (ADTN) Price Target at $24.14” was posted by Daily Political and is owned by of Daily Political. If you are reading this news story on another domain, it was stolen and republished in violation of U.S. & international trademark & copyright law. The original version of this news story can be read at https://www.dailypolitical.com/2017/09/11/analysts-set-adtran-inc-adtn-price-target-at-24-14.html.
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.
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.
Receive News & Ratings for ADTRAN Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ADTRAN Inc. and related companies with MarketBeat.com's FREE daily email newsletter.