ADTRAN’s (ADTN) Buy Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of ADTRAN (NASDAQ:ADTN) in a research report released on Wednesday morning,Benzinga reports. Rosenblatt Securities currently has a $11.00 price objective on the communications equipment provider’s stock.

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of ADTRAN in a report on Wednesday, October 8th. Wall Street Zen cut ADTRAN from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, B. Riley initiated coverage on ADTRAN in a research note on Thursday, September 18th. They issued a “buy” rating and a $16.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.80.

ADTRAN Trading Up 6.2%

NASDAQ ADTN opened at $8.40 on Wednesday. ADTRAN has a fifty-two week low of $6.18 and a fifty-two week high of $12.44. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.19 and a current ratio of 1.96. The stock has a 50 day simple moving average of $9.49 and a two-hundred day simple moving average of $8.87. The stock has a market cap of $671.82 million, a P/E ratio of -6.41 and a beta of 1.41.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings data on Friday, March 15th. The communications equipment provider reported $0.89 earnings per share for the quarter. ADTRAN had a negative return on equity of 10.09% and a negative net margin of 11.02%.The business had revenue of $358.27 million during the quarter. On average, analysts forecast that ADTRAN will post -0.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ADTN. Teacher Retirement System of Texas bought a new position in ADTRAN during the 1st quarter valued at approximately $570,000. Cerity Partners LLC bought a new position in ADTRAN during the 1st quarter valued at approximately $137,000. Ballentine Partners LLC bought a new position in ADTRAN during the 1st quarter valued at approximately $94,000. Arizona State Retirement System bought a new position in ADTRAN during the 1st quarter valued at approximately $188,000. Finally, CWM LLC increased its position in ADTRAN by 159.6% during the 1st quarter. CWM LLC now owns 13,360 shares of the communications equipment provider’s stock valued at $116,000 after buying an additional 8,214 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

About ADTRAN

ADTRAN Holdings, Inc, through its subsidiaries, provides networking and communications platforms, software, systems, and services in the United States, Germany, the United Kingdom, and internationally. It operates through two segments, Network Solutions, and Services & Support. It offers residential gateways; ethernet passive optical network ONUs; gigabit passive optical network/XGS-PON ONTs; traditional SSE, routers, and switches; edge cloud; carrier ethernet network interface devices; Optical Line Terminals; Packet Aggregation, Copper Access, and Oscilloquartz; optical transport and engine solutions; infrastructure monitoring solution; and training, professional, software, and managed services.