ADTRAN (ADTN) Downgraded to Sell at ValuEngine
ValuEngine cut shares of ADTRAN (NASDAQ:ADTN) from a hold rating to a sell rating in a report published on Thursday.
A number of other analysts have also recently commented on the company. BidaskClub cut ADTRAN from a hold rating to a sell rating in a research report on Tuesday, December 12th. Needham & Company LLC restated a buy rating and issued a $22.00 price objective (down from $26.00) on shares of ADTRAN in a research report on Friday, January 12th. MKM Partners cut their price objective on ADTRAN from $27.00 to $25.00 and set a buy rating for the company in a research report on Friday, December 29th. Goldman Sachs Group upgraded ADTRAN from a sell rating to a neutral rating and set a $17.00 price objective for the company in a research report on Monday, January 15th. Finally, Zacks Investment Research cut ADTRAN from a hold rating to a sell rating in a research report on Thursday, January 4th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $21.41.
ADTRAN (NASDAQ:ADTN) opened at $15.55 on Thursday. The company has a current ratio of 3.87, a quick ratio of 2.72 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $752.99, a P/E ratio of 19.20, a P/E/G ratio of 3.24 and a beta of 0.56. ADTRAN has a 12-month low of $15.25 and a 12-month high of $25.10.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Tuesday, January 30th. ADTRAN’s dividend payout ratio is presently 72.00%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio boosted its stake in ADTRAN by 5.8% during the second quarter. Public Employees Retirement System of Ohio now owns 6,804 shares of the communications equipment provider’s stock worth $141,000 after buying an additional 373 shares during the last quarter. Thompson Davis & CO. Inc. acquired a new position in ADTRAN during the third quarter worth $157,000. SG Americas Securities LLC acquired a new position in ADTRAN during the third quarter worth $190,000. All Terrain Financial Advisors LLC acquired a new position in ADTRAN during the fourth quarter worth $194,000. Finally, Two Sigma Advisers LP acquired a new position in ADTRAN during the fourth quarter worth $199,000. 90.32% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION WARNING: This piece was published by Daily Political and is the sole property of of Daily Political. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.dailypolitical.com/2018/03/05/adtran-adtn-downgraded-to-sell-at-valuengine.html.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for ADTRAN Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ADTRAN and related companies with MarketBeat.com's FREE daily email newsletter.