ADTRAN, Inc. (NASDAQ:ADTN) Receives $25.43 Consensus Target Price from Analysts

Shares of ADTRAN, Inc. (NASDAQ:ADTNGet Rating) have earned a consensus recommendation of “Buy” from the eight brokerages that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $25.43.

Several research analysts have recently issued reports on ADTN shares. Zacks Investment Research downgraded ADTRAN from a “buy” rating to a “hold” rating and set a $21.00 price target for the company. in a research note on Monday, March 14th. StockNews.com started coverage on ADTRAN in a research report on Thursday, March 31st. They set a “hold” rating for the company. Rosenblatt Securities started coverage on ADTRAN in a research report on Monday, April 11th. They set a “buy” rating and a $25.00 price objective for the company. Northland Securities reiterated a “buy” rating and set a $35.00 price objective on shares of ADTRAN in a research report on Friday, February 4th. Finally, Loop Capital initiated coverage on ADTRAN in a research report on Wednesday, February 23rd. They set a “hold” rating and a $21.00 price objective for the company.

In other ADTRAN news, SVP Marc Kimpe sold 5,000 shares of ADTRAN stock in a transaction dated Thursday, February 24th. The stock was sold at an average price of $20.02, for a total value of $100,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.08% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new stake in shares of ADTRAN during the 3rd quarter worth about $31,000. Pinebridge Investments L.P. purchased a new stake in shares of ADTRAN during the 4th quarter worth about $37,000. Macquarie Group Ltd. purchased a new stake in shares of ADTRAN during the 3rd quarter worth about $44,000. Royal Bank of Canada grew its holdings in shares of ADTRAN by 43.7% during the 2nd quarter. Royal Bank of Canada now owns 6,603 shares of the communications equipment provider’s stock worth $136,000 after purchasing an additional 2,009 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of ADTRAN by 22.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,142 shares of the communications equipment provider’s stock worth $140,000 after purchasing an additional 1,119 shares during the period. Institutional investors and hedge funds own 91.45% of the company’s stock.

NASDAQ:ADTN opened at $17.81 on Thursday. ADTRAN has a 52-week low of $16.79 and a 52-week high of $24.76. The stock has a fifty day simple moving average of $19.52 and a 200-day simple moving average of $19.90.

ADTRAN (NASDAQ:ADTNGet Rating) last released its quarterly earnings results on Wednesday, February 2nd. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.12. The business had revenue of $154.16 million during the quarter, compared to the consensus estimate of $141.00 million. ADTRAN had a positive return on equity of 3.35% and a negative net margin of 1.53%. During the same quarter in the previous year, the company posted $0.08 EPS. On average, analysts expect that ADTRAN will post 0.35 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 3rd. Shareholders of record on Thursday, February 17th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.02%. The ex-dividend date was Wednesday, February 16th. ADTRAN’s dividend payout ratio (DPR) is -199.99%.

ADTRAN Company Profile (Get Rating)

ADTRAN, Inc provides networking and communications platforms, software, and services in the United States, Germany, the United Kingdom, Mexico, and internationally. It operates through two segments, Network Solutions, and Services & Support. The company offers fiber access and fiber to the node platforms; transceivers, cables, and other miscellaneous materials; passive optical network optical line terminals; fiber to the distribution point Gfast distribution point units; cabinet and outside plant enclosures and services; packet optical transports; fixed wireless access platforms; and network management and subscriber services, and control and orchestration software.

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Analyst Recommendations for ADTRAN (NASDAQ:ADTN)

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