BidaskClub cut shares of ADTRAN (NASDAQ:ADTN) from a sell rating to a strong sell rating in a report published on Friday.

Several other analysts also recently issued reports on the company. Jefferies Group reiterated a hold rating and issued a $17.25 price target on shares of ADTRAN in a report on Thursday, January 18th. Northland Securities restated a buy rating and set a $23.00 target price on shares of ADTRAN in a research note on Thursday, January 18th. Goldman Sachs Group upgraded ADTRAN from a sell rating to a neutral rating and set a $17.00 target price for the company in a research note on Monday, January 15th. Needham & Company LLC restated a buy rating and set a $22.00 target price (down from $26.00) on shares of ADTRAN in a research note on Friday, January 12th. Finally, Zacks Investment Research downgraded ADTRAN from a hold rating to a sell rating in a research note on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $21.41.

Shares of ADTRAN (ADTN) opened at $16.80 on Friday. ADTRAN has a twelve month low of $16.05 and a twelve month high of $25.10. The stock has a market capitalization of $808.91, a price-to-earnings ratio of 34.29, a P/E/G ratio of 5.56 and a beta of 0.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.98 and a quick ratio of 2.79.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings results on Tuesday, January 16th. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. ADTRAN had a return on equity of 7.95% and a net margin of 3.58%. The firm had revenue of $126.52 million during the quarter, compared to the consensus estimate of $125.90 million. equities analysts anticipate that ADTRAN will post 0.29 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st will be paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, January 30th. This represents a $0.36 annualized dividend and a dividend yield of 2.14%. ADTRAN’s dividend payout ratio is presently 73.47%.

A number of large investors have recently bought and sold shares of ADTN. Renaissance Technologies LLC grew its stake in ADTRAN by 25.4% in the second quarter. Renaissance Technologies LLC now owns 1,620,128 shares of the communications equipment provider’s stock worth $33,456,000 after purchasing an additional 328,600 shares in the last quarter. Northern Trust Corp grew its stake in ADTRAN by 37.1% in the second quarter. Northern Trust Corp now owns 914,639 shares of the communications equipment provider’s stock worth $18,886,000 after purchasing an additional 247,413 shares in the last quarter. FMR LLC grew its stake in ADTRAN by 167.6% in the second quarter. FMR LLC now owns 390,801 shares of the communications equipment provider’s stock worth $8,070,000 after purchasing an additional 244,770 shares in the last quarter. Prudential Financial Inc. grew its stake in ADTRAN by 56.0% in the third quarter. Prudential Financial Inc. now owns 434,901 shares of the communications equipment provider’s stock worth $10,438,000 after purchasing an additional 156,030 shares in the last quarter. Finally, Citadel Advisors LLC grew its stake in ADTRAN by 226.6% in the second quarter. Citadel Advisors LLC now owns 213,327 shares of the communications equipment provider’s stock worth $4,405,000 after purchasing an additional 148,003 shares in the last quarter. Institutional investors and hedge funds 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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