ADTRAN (NASDAQ:ADTN) Stock Rating Upgraded by Wall Street Zen

ADTRAN (NASDAQ:ADTN) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Monday.

ADTN has been the subject of a number of other reports. Needham & Company LLC reissued a “buy” rating and set a $18.00 price objective on shares of ADTRAN in a research note on Wednesday, May 6th. Evercore assumed coverage on ADTRAN in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of ADTRAN in a report on Tuesday, June 30th. Rosenblatt Securities raised their price target on ADTRAN from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, B. Riley Financial reissued a “buy” rating on shares of ADTRAN in a report on Friday, May 1st. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

ADTRAN Price Performance

ADTRAN stock opened at $12.14 on Monday. The company has a market cap of $988.80 million, a P/E ratio of -31.13 and a beta of 1.44. ADTRAN has a one year low of $7.11 and a one year high of $19.98. The business has a fifty day moving average of $14.61 and a two-hundred day moving average of $12.74. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.18 and a current ratio of 1.77.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. ADTRAN had a negative net margin of 3.18% and a positive return on equity of 10.94%. The business had revenue of $286.09 million for the quarter, compared to analysts’ expectations of $285.48 million. During the same period in the prior year, the company posted $0.03 EPS. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, analysts predict that ADTRAN will post 0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ADTRAN

Several institutional investors and hedge funds have recently modified their holdings of ADTN. Quarry LP acquired a new stake in shares of ADTRAN during the 3rd quarter worth $36,000. Kestra Advisory Services LLC acquired a new position in ADTRAN in the fourth quarter valued at $36,000. ST Germain D J Co. Inc. grew its position in ADTRAN by 100.0% during the fourth quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider’s stock valued at $43,000 after acquiring an additional 2,500 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in ADTRAN during the fourth quarter valued at about $47,000. Finally, Freestone Grove Partners LP purchased a new stake in ADTRAN during the fourth quarter valued at about $87,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

About ADTRAN

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.