ADTRAN (NASDAQ:ADTN) Raised to “Hold” at Zacks Research

ADTRAN (NASDAQ:ADTN) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

Other research analysts have also issued research reports about the company. Rosenblatt Securities decreased their target price on ADTRAN from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Northland Securities set a $15.00 target price on shares of ADTRAN in a research note on Wednesday, August 5th. Needham & Company LLC dropped their target price on shares of ADTRAN from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Weiss Ratings downgraded shares of ADTRAN from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, September 16th. Finally, Evercore set a $11.00 price target on shares of ADTRAN in a report on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $14.67.

ADTRAN Price Performance

Shares of ADTN stock opened at $7.62 on Monday. The firm has a fifty day moving average of $7.59 and a two-hundred day moving average of $11.99. The firm has a market cap of $620.88 million, a P/E ratio of -27.21, a P/E/G ratio of 4.38 and a beta of 1.48. ADTRAN has a 1-year low of $6.73 and a 1-year high of $19.98. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.79 and a quick ratio of 1.19.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings results on Tuesday, August 4th. The communications equipment provider reported $0.04 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.06). The company had revenue of $281.15 million for the quarter, compared to the consensus estimate of $290.19 million. ADTRAN had a positive return on equity of 14.24% and a negative net margin of 2.29%.The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, research analysts anticipate that ADTRAN will post 0.16 earnings per share for the current fiscal year.

Institutional Trading of ADTRAN

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in ADTRAN during the 2nd quarter valued at $108,923,000. Needham Investment Management LLC increased its holdings in shares of ADTRAN by 23.2% during the fourth quarter. Needham Investment Management LLC now owns 1,447,500 shares of the communications equipment provider’s stock valued at $12,579,000 after purchasing an additional 272,500 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of ADTRAN by 50.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,337,028 shares of the communications equipment provider’s stock valued at $16,817,000 after purchasing an additional 448,848 shares in the last quarter. SG Americas Securities LLC lifted its holdings in ADTRAN by 53.6% in the first quarter. SG Americas Securities LLC now owns 1,316,049 shares of the communications equipment provider’s stock worth $16,556,000 after purchasing an additional 459,005 shares during the period. Finally, Sei Investments Co. lifted its holdings in ADTRAN by 162.0% in the first quarter. Sei Investments Co. now owns 1,105,110 shares of the communications equipment provider’s stock worth $13,902,000 after purchasing an additional 683,262 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.

ADTRAN Company Profile

ADTRAN Holdings, Inc is a communications networking company that develops hardware, software and services for telecommunications providers, enterprises and private networks. Its solutions help customers deploy and manage broadband, fiber, Ethernet, fixed wireless and other access networks.

The company’s portfolio includes fiber access platforms, optical networking systems, broadband gateways, routers, switches, Wi-Fi equipment, network management software and cloud-based tools. ADTRAN also provides professional, support and managed services designed to help communications service providers build and operate scalable networks.

Founded in 1985 and headquartered in Huntsville, Alabama, ADTRAN serves customers across North America, Europe and other international markets.