ADTRAN (NASDAQ:ADTN) Lowered to “Buy” Rating by Wall Street Zen

Wall Street Zen downgraded shares of ADTRAN (NASDAQ:ADTN) from a strong-buy rating to a buy rating in a report issued on Saturday.

A number of other research firms also recently issued reports on ADTN. Argus upgraded shares of ADTRAN to a “hold” rating in a report on Wednesday, March 4th. Rosenblatt Securities increased their target price on shares of ADTRAN from $11.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $14.00 price target on shares of ADTRAN in a research note on Thursday, February 26th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $15.33.

ADTRAN Stock Down 3.7%

ADTN stock opened at $11.46 on Friday. The stock has a market cap of $924.36 million, a P/E ratio of -22.47 and a beta of 1.37. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 1.50. The stock’s fifty day simple moving average is $9.93 and its two-hundred day simple moving average is $9.26. ADTRAN has a 1-year low of $6.93 and a 1-year high of $12.29.

ADTRAN (NASDAQ:ADTN) last announced its earnings results on Wednesday, February 25th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.08. The firm had revenue of $291.56 million during the quarter, compared to analyst estimates of $281.12 million. ADTRAN had a positive return on equity of 4.23% and a negative net margin of 4.15%.The firm’s quarterly revenue was up 20.0% on a year-over-year basis. Analysts expect that ADTRAN will post -0.5 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. raised its stake in ADTRAN by 1.6% in the fourth quarter. Franklin Resources Inc. now owns 79,692 shares of the communications equipment provider’s stock valued at $693,000 after purchasing an additional 1,263 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of ADTRAN by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,767 shares of the communications equipment provider’s stock worth $408,000 after buying an additional 1,946 shares during the last quarter. Occudo Quantitative Strategies LP increased its holdings in shares of ADTRAN by 3.2% in the 3rd quarter. Occudo Quantitative Strategies LP now owns 65,702 shares of the communications equipment provider’s stock worth $616,000 after buying an additional 2,016 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of ADTRAN by 1.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 187,814 shares of the communications equipment provider’s stock valued at $1,632,000 after buying an additional 2,068 shares in the last quarter. Finally, ST Germain D J Co. Inc. raised its position in shares of ADTRAN by 100.0% during the 4th quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider’s stock valued at $43,000 after buying an additional 2,500 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors.

ADTRAN Company Profile

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company’s product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.