Zacks Investment Research upgraded shares of ADTRAN (NASDAQ:ADTN) from a sell rating to a hold rating in a research report report published on Tuesday morning.

According to Zacks, “ADTRAN has an impressive earnings history having surpassed estimates in each of the preceding four quarters with an average beat of 84.2%. The company's efforts to reward shareholders through dividend payments are also impressive. In January, the company's board cleared a quarterly cash dividend of 9 cents per share. ADTRAN's efforts to expand internationally also raise optimism. However, the below-par performance of revenue generating segments like Product and Service are concerning and may hurt results in the upcoming quarters as well. Shares of the company have underperformed the industry it belongs to in a year. The stock has lost 23.7% while the industry appreciated 17.3% over the same period.”

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Several other equities analysts have also commented on ADTN. BidaskClub lowered ADTRAN from a hold rating to a sell rating in a research report on Tuesday, December 12th. MKM Partners reduced their price objective on ADTRAN from $27.00 to $25.00 and set a buy rating on the stock in a research report on Friday, December 29th. Cowen reiterated a hold rating and set a $16.00 price objective on shares of ADTRAN in a research report on Friday, December 29th. Needham & Company LLC reiterated a buy rating and set a $22.00 price objective (down from $26.00) on shares of ADTRAN in a research report on Friday, January 12th. Finally, Goldman Sachs upgraded ADTRAN from a sell rating to a neutral rating and set a $17.00 price objective on the stock in a research report on Monday, January 15th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $21.41.

ADTRAN (NASDAQ:ADTN) opened at $16.10 on Tuesday. The firm has a market capitalization of $777.21, a PE ratio of 19.82, a price-to-earnings-growth ratio of 2.97 and a beta of 0.56. The company has a quick ratio of 2.72, a current ratio of 3.87 and a debt-to-equity ratio of 0.05. ADTRAN has a one year low of $15.25 and a one year high of $25.10.

ADTRAN (NASDAQ:ADTN) last announced its earnings results on Tuesday, January 16th. The communications equipment provider reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $126.52 million for the quarter, compared to analyst estimates of $125.90 million. ADTRAN had a return on equity of 7.95% and a net margin of 3.58%. equities analysts predict that ADTRAN will post 0.54 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. California Public Employees Retirement System boosted its holdings in ADTRAN by 1.9% during the 4th quarter. California Public Employees Retirement System now owns 191,454 shares of the communications equipment provider’s stock valued at $3,705,000 after acquiring an additional 3,540 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in ADTRAN by 15.4% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 30,330 shares of the communications equipment provider’s stock valued at $587,000 after acquiring an additional 4,056 shares during the period. Legal & General Group Plc boosted its holdings in ADTRAN by 4.7% during the 3rd quarter. Legal & General Group Plc now owns 95,187 shares of the communications equipment provider’s stock valued at $2,283,000 after acquiring an additional 4,241 shares during the period. Municipal Employees Retirement System of Michigan boosted its holdings in ADTRAN by 42.8% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 22,300 shares of the communications equipment provider’s stock valued at $535,000 after acquiring an additional 6,680 shares during the period. Finally, Vident Investment Advisory LLC boosted its holdings in ADTRAN by 78.9% during the 4th quarter. Vident Investment Advisory LLC now owns 17,754 shares of the communications equipment provider’s stock valued at $344,000 after acquiring an additional 7,830 shares during the period. Institutional investors own 93.00% of the company’s stock.

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About ADTRAN

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.

Analyst Recommendations for ADTRAN (NASDAQ:ADTN)

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