ADTRAN (NASDAQ:ADTN) was upgraded by Northland Securities from a “market perform” rating to an “outperform” rating in a research report issued on Thursday, The Fly reports.

A number of other brokerages also recently issued reports on ADTN. Zacks Investment Research upgraded shares of ADTRAN from a “strong sell” rating to a “hold” rating and set a $8.50 price target for the company in a report on Monday, January 6th. Needham & Company LLC reiterated a “hold” rating on shares of ADTRAN in a research note on Thursday, February 6th. BidaskClub lowered shares of ADTRAN from a “hold” rating to a “sell” rating in a research note on Monday, March 2nd. Finally, ValuEngine raised shares of ADTRAN from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $11.63.

Shares of NASDAQ ADTN traded up $0.73 during mid-day trading on Thursday, reaching $6.93. 62,623 shares of the company’s stock were exchanged, compared to its average volume of 428,850. The firm has a market capitalization of $305.35 million, a price-to-earnings ratio of -6.36 and a beta of 1.31. The business has a fifty day simple moving average of $7.82 and a 200 day simple moving average of $9.36. ADTRAN has a twelve month low of $4.80 and a twelve month high of $17.81.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.07) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.09. The firm had revenue of $115.79 million during the quarter, compared to the consensus estimate of $112.70 million. ADTRAN had a positive return on equity of 0.06% and a negative net margin of 9.99%. As a group, research analysts predict that ADTRAN will post -0.46 EPS for the current year.

In other news, insider Daniel T. Whalen bought 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost of $8.71 per share, for a total transaction of $56,615.00. Following the completion of the purchase, the insider now owns 23,200 shares of the company’s stock, valued at approximately $202,072. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel T. Whalen bought 13,500 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average price of $8.95 per share, with a total value of $120,825.00. Following the completion of the purchase, the insider now directly owns 23,200 shares of the company’s stock, valued at approximately $207,640. The disclosure for this purchase can be found here. 2.52% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the stock. California Public Employees Retirement System raised its position in ADTRAN by 16.9% in the 3rd quarter. California Public Employees Retirement System now owns 101,109 shares of the communications equipment provider’s stock valued at $1,147,000 after buying an additional 14,585 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in ADTRAN in the 4th quarter valued at $2,431,000. Squarepoint Ops LLC raised its holdings in shares of ADTRAN by 34.3% during the 3rd quarter. Squarepoint Ops LLC now owns 192,644 shares of the communications equipment provider’s stock worth $2,186,000 after buying an additional 49,166 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of ADTRAN by 9.2% during the 4th quarter. Acadian Asset Management LLC now owns 462,383 shares of the communications equipment provider’s stock worth $4,575,000 after buying an additional 39,042 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of ADTRAN by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 736,447 shares of the communications equipment provider’s stock worth $7,284,000 after buying an additional 45,670 shares in the last quarter. Institutional investors and hedge funds own 90.53% of the company’s stock.

About ADTRAN

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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