ADTRAN (NASDAQ:ADTN) Raised to “Outperform” at Northland Securities

ADTRAN (NASDAQ:ADTN) was upgraded by Northland Securities from a “market perform” rating to an “outperform” rating in a note issued to investors on Wednesday, MarketBeat reports. The firm presently has a $7.50 price target on the communications equipment provider’s stock. Northland Securities’ price target indicates a potential upside of 39.66% from the company’s previous close.

ADTN has been the topic of several other reports. StockNews.com upgraded ADTRAN to a “sell” rating in a research note on Wednesday, March 6th. Rosenblatt Securities cut their price target on shares of ADTRAN from $8.00 to $7.50 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price objective on shares of ADTRAN in a research note on Wednesday, April 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ADTRAN has an average rating of “Hold” and a consensus target price of $9.75.

ADTRAN Trading Down 1.8 %

NASDAQ ADTN opened at $5.37 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 2.64 and a debt-to-equity ratio of 0.33. ADTRAN has a 52 week low of $4.34 and a 52 week high of $11.02. The business has a 50 day moving average price of $5.20 and a 200-day moving average price of $6.04. The company has a market cap of $424.85 million, a price-to-earnings ratio of -1.68 and a beta of 1.13.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings data on Monday, February 26th. The communications equipment provider reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($1.01). The business had revenue of $225.48 million for the quarter, compared to analyst estimates of $232.45 million. ADTRAN had a negative net margin of 21.80% and a negative return on equity of 15.65%. As a group, equities analysts expect that ADTRAN will post -0.25 earnings per share for the current fiscal year.

Institutional Trading of ADTRAN

Large investors have recently added to or reduced their stakes in the stock. Cape Investment Advisory Inc. purchased a new position in ADTRAN in the fourth quarter valued at about $27,000. Nisa Investment Advisors LLC raised its holdings in shares of ADTRAN by 20,809.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the communications equipment provider’s stock worth $51,000 after purchasing an additional 6,867 shares during the period. RPO LLC purchased a new position in ADTRAN in the fourth quarter valued at approximately $84,000. PNC Financial Services Group Inc. grew its holdings in ADTRAN by 91.5% during the third quarter. PNC Financial Services Group Inc. now owns 12,933 shares of the communications equipment provider’s stock valued at $106,000 after purchasing an additional 6,179 shares during the period. Finally, Victory Capital Management Inc. increased its position in ADTRAN by 28.4% in the fourth quarter. Victory Capital Management Inc. now owns 15,041 shares of the communications equipment provider’s stock worth $110,000 after buying an additional 3,326 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

About ADTRAN

ADTRAN Holdings, Inc, through its subsidiaries, provides networking and communications platforms, software, systems, and services in the United States, Germany, the United Kingdom, and internationally. It operates through two segments, Network Solutions, and Services & Support. It offers residential gateways; ethernet passive optical network ONUs; gigabit passive optical network/XGS-PON ONTs; traditional SSE, routers, and switches; edge cloud; carrier ethernet network interface devices; Optical Line Terminals; Packet Aggregation, Copper Access, and Oscilloquartz; optical transport and engine solutions; infrastructure monitoring solution; and training, professional, software, and managed services.