ADTRAN (NASDAQ:ADTN) Lowered to “Neutral” at Rosenblatt Securities

Rosenblatt Securities lowered shares of ADTRAN (NASDAQ:ADTN) from a buy rating to a neutral rating in a research note released on Tuesday, MarketBeat reports. The firm currently has $7.00 price objective on the communications equipment provider’s stock, down from their previous price objective of $11.00.

Several other research analysts have also recently weighed in on ADTN. Needham & Company LLC lowered their price objective on ADTRAN from $15.00 to $12.00 in a research report on Wednesday, August 9th. StockNews.com initiated coverage on ADTRAN in a research report on Thursday, October 5th. They set a sell rating on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $15.80.

ADTRAN Stock Down 26.5 %

ADTN opened at $5.39 on Tuesday. ADTRAN has a 1-year low of $5.08 and a 1-year high of $21.68. The stock’s fifty day simple moving average is $7.70 and its 200 day simple moving average is $8.74. The company has a current ratio of 2.75, a quick ratio of 1.40 and a debt-to-equity ratio of 0.26. The stock has a market cap of $424.09 million, a PE ratio of -5.67 and a beta of 1.36.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings results on Sunday, August 6th. The communications equipment provider reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). ADTRAN had a negative return on equity of 1.19% and a negative net margin of 5.25%. The business had revenue of $327.38 million for the quarter, compared to analysts’ expectations of $329.65 million. As a group, research analysts expect that ADTRAN will post -0.39 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ADTN. Quadrant Capital Group LLC increased its position in shares of ADTRAN by 686.7% in the second quarter. Quadrant Capital Group LLC now owns 3,194 shares of the communications equipment provider’s stock worth $34,000 after purchasing an additional 2,788 shares during the period. FMR LLC increased its position in shares of ADTRAN by 41.3% in the second quarter. FMR LLC now owns 1,965 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 574 shares during the period. Tower Research Capital LLC TRC increased its position in shares of ADTRAN by 165.6% in the first quarter. Tower Research Capital LLC TRC now owns 2,223 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 1,386 shares during the period. US Bancorp DE increased its position in shares of ADTRAN by 328.0% in the second quarter. US Bancorp DE now owns 3,835 shares of the communications equipment provider’s stock worth $40,000 after purchasing an additional 2,939 shares during the period. Finally, Macquarie Group Ltd. acquired a new stake in ADTRAN in the third quarter valued at about $46,000. Institutional investors own 81.88% of the company’s stock.

About ADTRAN

ADTRAN Holdings, Inc, through its subsidiaries, provides end-to-end fiber networking solutions for communications service provider, enterprises, and government customers in the United States, Germany, the United Kingdom, Mexico, and internationally. It operates through two segments, Network Solutions, and Services & Support.