ADTRAN (NASDAQ:ADTN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ADTRAN (NASDAQ:ADTN) from a hold rating to a buy rating in a research report released on Saturday.

ADTN has been the topic of several other reports. Needham & Company LLC reissued a “buy” rating and set a $14.00 price target on shares of ADTRAN in a research report on Thursday. Rosenblatt Securities lifted their target price on ADTRAN from $11.00 to $16.00 and gave the company a “buy” rating in a research report on Friday. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.33.

ADTRAN Trading Down 2.4%

NASDAQ ADTN opened at $9.96 on Friday. ADTRAN has a 52 week low of $6.93 and a 52 week high of $11.18. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.16 and a current ratio of 1.76. The stock’s 50 day moving average price is $9.49 and its two-hundred day moving average price is $9.13. The stock has a market capitalization of $803.37 million, a price-to-earnings ratio of -19.53 and a beta of 1.37.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Wednesday, February 25th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. The company had revenue of $291.56 million for the quarter, compared to the consensus estimate of $281.12 million. ADTRAN had a negative net margin of 4.15% and a positive return on equity of 4.23%. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, analysts anticipate that ADTRAN will post -0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ADTRAN

Several hedge funds have recently bought and sold shares of the company. Millennium Management LLC increased its position in ADTRAN by 371.2% during the fourth quarter. Millennium Management LLC now owns 2,694,800 shares of the communications equipment provider’s stock worth $23,418,000 after buying an additional 2,122,844 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of ADTRAN during the 3rd quarter worth approximately $10,168,000. Paradigm Capital Management Inc. NY increased its holdings in shares of ADTRAN by 527.7% during the 4th quarter. Paradigm Capital Management Inc. NY now owns 1,129,909 shares of the communications equipment provider’s stock worth $9,819,000 after acquiring an additional 949,909 shares during the last quarter. SG Capital Management LLC acquired a new position in shares of ADTRAN during the 2nd quarter worth approximately $7,601,000. Finally, Assenagon Asset Management S.A. raised its stake in ADTRAN by 691.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 932,680 shares of the communications equipment provider’s stock valued at $8,749,000 after acquiring an additional 814,864 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.

ADTRAN Company Profile

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company’s product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.