ADTRAN (NASDAQ:ADTN) Stock Rating Lowered by Zacks Research

ADTRAN (NASDAQ:ADTN) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.

Several other equities analysts have also commented on the stock. Needham & Company LLC dropped their price target on shares of ADTRAN from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. Wall Street Zen cut ADTRAN from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 28th. Craig Hallum set a $12.00 price target on ADTRAN in a research note on Wednesday. Rosenblatt Securities dropped their target price on shares of ADTRAN from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Evercore set a $11.00 price target on shares of ADTRAN in a research report on Wednesday. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $14.67.

ADTRAN Stock Performance

NASDAQ:ADTN opened at $7.91 on Tuesday. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.79 and a quick ratio of 1.18. The firm has a market cap of $644.27 million, a PE ratio of -28.25 and a beta of 1.47. The firm has a 50 day simple moving average of $13.16 and a 200-day simple moving average of $12.75. ADTRAN has a 1-year low of $7.11 and a 1-year high of $19.98.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data on Monday, August 3rd. The communications equipment provider reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). ADTRAN had a negative net margin of 2.29% and a positive return on equity of 14.24%. The business had revenue of $281.15 million during the quarter, compared to analysts’ expectations of $290.19 million. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities analysts expect that ADTRAN will post 0.23 EPS for the current year.

Hedge Funds Weigh In On ADTRAN

A number of institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership raised its holdings in ADTRAN by 60.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 455,647 shares of the communications equipment provider’s stock worth $5,732,000 after purchasing an additional 171,145 shares in the last quarter. Heartland Advisors Inc. acquired a new position in ADTRAN in the 1st quarter worth approximately $9,435,000. Sei Investments Co. raised its stake in ADTRAN by 162.0% during the 1st quarter. Sei Investments Co. now owns 1,105,110 shares of the communications equipment provider’s stock valued at $13,902,000 after purchasing an additional 683,262 shares during the period. Kovack Advisors Inc. lifted its holdings in shares of ADTRAN by 6.4% in the fourth quarter. Kovack Advisors Inc. now owns 753,550 shares of the communications equipment provider’s stock valued at $6,669,000 after purchasing an additional 45,650 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of ADTRAN in the fourth quarter worth $563,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

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.