Goldman Sachs Group upgraded shares of ADTRAN (NASDAQ:ADTN) from a sell rating to a neutral rating in a research note published on Monday, MarketBeat Ratings reports. They currently have $17.00 price target on the communications equipment provider’s stock.

A number of other analysts also recently issued reports on ADTN. Zacks Investment Research downgraded shares of ADTRAN from a buy rating to a hold rating in a report on Tuesday, September 19th. Northland Securities set a $28.00 price target on shares of ADTRAN and gave the stock a buy rating in a research note on Wednesday, October 18th. BidaskClub downgraded shares of ADTRAN from a hold rating to a sell rating in a research note on Tuesday, December 12th. MKM Partners lowered their price target on shares of ADTRAN from $27.00 to $25.00 and set a buy rating for the company in a research note on Friday, December 29th. Finally, Cowen reissued a hold rating and issued a $16.00 price target on shares of ADTRAN in a research note on Friday, December 29th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $22.44.

ADTRAN (ADTN) remained flat at $$19.70 during midday trading on Monday. The company’s stock had a trading volume of 348,900 shares, compared to its average volume of 475,256. ADTRAN has a one year low of $18.65 and a one year high of $25.10. The company has a current ratio of 3.36, a quick ratio of 2.43 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $960.58, a P/E ratio of 22.39, a P/E/G ratio of 2.86 and a beta of 0.77.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Tuesday, October 17th. The communications equipment provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.13. ADTRAN had a net margin of 6.05% and a return on equity of 9.05%. The company had revenue of $185.11 million during the quarter, compared to the consensus estimate of $185.43 million. equities research analysts forecast that ADTRAN will post 0.68 EPS for the current year.

In other ADTRAN news, SVP Raymond R. Schansman sold 48,056 shares of the business’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $21.70, for a total value of $1,042,815.20. Following the transaction, the senior vice president now owns 11,658 shares in the company, valued at $252,978.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kevin P. Heering sold 9,809 shares of the business’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $21.60, for a total transaction of $211,874.40. Following the completion of the transaction, the senior vice president now owns 10,162 shares in the company, valued at approximately $219,499.20. The disclosure for this sale can be found here. Insiders own 2.96% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in ADTN. Schwab Charles Investment Management Inc. increased its position in shares of ADTRAN by 6.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 409,976 shares of the communications equipment provider’s stock valued at $8,467,000 after acquiring an additional 25,208 shares during the period. Bank of New York Mellon Corp increased its position in shares of ADTRAN by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 787,094 shares of the communications equipment provider’s stock valued at $16,254,000 after acquiring an additional 13,222 shares during the period. Legal & General Group Plc increased its position in shares of ADTRAN by 8.2% in the second quarter. Legal & General Group Plc now owns 90,946 shares of the communications equipment provider’s stock valued at $1,877,000 after acquiring an additional 6,910 shares during the period. Prudential Financial Inc. increased its position in shares of ADTRAN by 204.4% in the second quarter. Prudential Financial Inc. now owns 278,871 shares of the communications equipment provider’s stock valued at $5,759,000 after acquiring an additional 187,250 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of ADTRAN by 46.6% in the second quarter. JPMorgan Chase & Co. now owns 258,431 shares of the communications equipment provider’s stock valued at $5,336,000 after acquiring an additional 82,134 shares during the period. Hedge funds and other institutional investors own 91.37% of the company’s stock.

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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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