ADTRAN (NASDAQ:ADTN) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Saturday.
A number of other research firms have also recently weighed in on ADTN. Bank of America raised ADTRAN from an “underperform” rating to a “neutral” rating in a research report on Thursday, September 13th. MKM Partners lifted their price objective on ADTRAN from $21.00 to $22.00 in a research report on Thursday, September 13th. ValuEngine raised ADTRAN from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. Zacks Investment Research raised ADTRAN from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Tuesday, October 9th. Finally, Northland Securities cut ADTRAN from an “outperform” rating to a “market perform” rating and set a $17.00 price objective on the stock. in a research report on Wednesday, July 18th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $17.89.
ADTN stock opened at $14.12 on Friday. ADTRAN has a twelve month low of $13.05 and a twelve month high of $23.15. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.96 and a current ratio of 2.82. The stock has a market cap of $667.87 million, a PE ratio of 15.87 and a beta of 0.92.
ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Tuesday, October 16th. The communications equipment provider reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.17. ADTRAN had a negative return on equity of 2.20% and a negative net margin of 3.94%. The firm had revenue of $140.34 million for the quarter, compared to analysts’ expectations of $146.00 million. During the same period in the previous year, the firm earned $0.33 EPS. As a group, equities analysts forecast that ADTRAN will post -0.32 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of ADTN. Royal Bank of Canada raised its stake in ADTRAN by 5,939.2% during the 1st quarter. Royal Bank of Canada now owns 60,392 shares of the communications equipment provider’s stock valued at $939,000 after purchasing an additional 59,392 shares during the period. Principal Financial Group Inc. raised its stake in ADTRAN by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 393,648 shares of the communications equipment provider’s stock valued at $6,121,000 after purchasing an additional 12,969 shares during the period. Xact Kapitalforvaltning AB bought a new stake in ADTRAN during the 2nd quarter valued at approximately $168,000. SG Capital Management LLC bought a new stake in ADTRAN during the 2nd quarter valued at approximately $5,791,000. Finally, Deprince Race & Zollo Inc. raised its stake in ADTRAN by 32.6% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 2,795,330 shares of the communications equipment provider’s stock valued at $41,511,000 after purchasing an additional 686,488 shares during the period. 94.34% of the stock is currently owned by institutional investors.
ADTRAN, Inc provides networking and communications equipment worldwide. The company operates through two segments, Network Solutions and Services & Support. It offers access and aggregation solutions, including network management and subscriber services control and orchestration software within a SD-access architecture; SDN-controlled programmable network elements; fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; fiber to the distribution point optical network units; optical line terminals; optical networking edge aggregation; and IP digital subscriber line access multiplexers.
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