ADTRAN, Inc. (NASDAQ:ADTN) Given Consensus Rating of “Buy” by Brokerages

ADTRAN, Inc. (NASDAQ:ADTNGet Rating) has received an average 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 given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $25.43.

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

Shares of ADTN opened at $18.34 on Monday. ADTRAN has a 1-year low of $16.30 and a 1-year high of $24.76. The stock has a market cap of $904.44 million, a PE ratio of -83.36 and a beta of 1.27. The firm has a 50-day simple moving average of $18.62 and a two-hundred day simple moving average of $19.80.

ADTRAN (NASDAQ:ADTNGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The communications equipment provider reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. ADTRAN had a negative net margin of 1.81% and a positive return on equity of 4.27%. During the same quarter in the previous year, the firm earned $0.10 earnings per share. Equities analysts forecast that ADTRAN will post 0.35 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 2nd. Investors of record on Thursday, May 19th will be given a $0.09 dividend. The ex-dividend date is Wednesday, May 18th. This represents a $0.36 dividend on an annualized basis and a yield of 1.96%. ADTRAN’s dividend payout ratio (DPR) is presently -163.64%.

In related news, SVP Marc Kimpe sold 5,000 shares of the business’s stock in a transaction on Thursday, February 24th. The shares were sold at an average price of $20.02, for a total value of $100,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.08% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of ADTRAN by 3.5% in the fourth quarter. BlackRock Inc. now owns 8,140,068 shares of the communications equipment provider’s stock valued at $185,838,000 after buying an additional 277,460 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in ADTRAN by 1.5% during the third quarter. Bank of New York Mellon Corp now owns 3,350,572 shares of the communications equipment provider’s stock worth $62,855,000 after purchasing an additional 49,478 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in ADTRAN by 0.6% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,139,737 shares of the communications equipment provider’s stock worth $48,850,000 after purchasing an additional 13,518 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in ADTRAN by 8.6% during the fourth quarter. Westwood Holdings Group Inc. now owns 2,103,679 shares of the communications equipment provider’s stock worth $48,027,000 after purchasing an additional 166,081 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in ADTRAN by 779.4% during the fourth quarter. JPMorgan Chase & Co. now owns 2,013,217 shares of the communications equipment provider’s stock worth $45,962,000 after purchasing an additional 1,784,289 shares in the last quarter. 94.06% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading

Analyst Recommendations for ADTRAN (NASDAQ:ADTN)

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