ADTRAN (NASDAQ:ADTN) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of ADTRAN (NASDAQ:ADTNFree Report) from a sell rating to a hold rating in a research report sent to investors on Monday.

Other equities research analysts have also recently issued reports about the company. Northland Securities raised ADTRAN from a market perform rating to an outperform rating and set a $7.50 price objective on the stock in a research note on Wednesday, May 8th. Rosenblatt Securities reduced their price objective on ADTRAN from $8.00 to $7.50 and set a neutral rating on the stock in a research note on Wednesday, February 28th. Northland Capmk raised ADTRAN from a hold rating to a strong-buy rating in a research note on Wednesday, May 8th. Finally, Needham & Company LLC reissued a buy rating and set a $8.00 price objective on shares of ADTRAN in a research note on Monday, May 20th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $7.67.

Get Our Latest Stock Analysis on ADTN

ADTRAN Price Performance

NASDAQ:ADTN opened at $5.04 on Monday. The company has a current ratio of 2.46, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $398.75 million, a P/E ratio of -0.73 and a beta of 1.19. ADTRAN has a 12 month low of $4.34 and a 12 month high of $11.02. The business’s 50-day moving average is $5.11 and its 200 day moving average is $5.94.

ADTRAN (NASDAQ:ADTNGet Free Report) last posted its earnings results on Tuesday, May 7th. The communications equipment provider reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.05. The company had revenue of $226.17 million for the quarter, compared to the consensus estimate of $223.00 million. ADTRAN had a negative return on equity of 18.98% and a negative net margin of 51.42%. On average, equities research analysts forecast that ADTRAN will post -0.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its stake in shares of ADTRAN by 3.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 83,155 shares of the communications equipment provider’s stock valued at $453,000 after buying an additional 2,764 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of ADTRAN by 28.4% in the fourth quarter. Victory Capital Management Inc. now owns 15,041 shares of the communications equipment provider’s stock valued at $110,000 after purchasing an additional 3,326 shares during the period. Cape Investment Advisory Inc. purchased a new stake in shares of ADTRAN in the fourth quarter valued at approximately $27,000. PEAK6 Investments LLC boosted its holdings in shares of ADTRAN by 28.5% in the first quarter. PEAK6 Investments LLC now owns 17,646 shares of the communications equipment provider’s stock valued at $96,000 after purchasing an additional 3,911 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of ADTRAN by 91.5% in 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. Institutional investors own 80.56% of the company’s stock.

About ADTRAN

(Get Free Report)

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.

Further Reading

Analyst Recommendations for ADTRAN (NASDAQ:ADTN)

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