Wall Street Zen Upgrades ADTRAN (NASDAQ:ADTN) to Strong-Buy

ADTRAN (NASDAQ:ADTN) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

A number of other equities analysts also recently weighed in on the company. Needham & Company LLC lowered their price target on ADTRAN from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Wolfe Research began coverage on ADTRAN in a research report on Monday, July 7th. They set a “peer perform” rating on the stock. Finally, Rosenblatt Securities lowered their price target on ADTRAN from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $12.00.

ADTRAN Stock Performance

ADTN opened at $8.76 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 2.02 and a quick ratio of 1.18. The business’s 50-day moving average price is $8.74 and its two-hundred day moving average price is $8.99. The company has a market capitalization of $700.62 million, a price-to-earnings ratio of -5.15 and a beta of 1.30. ADTRAN has a 1 year low of $4.62 and a 1 year high of $12.44.

ADTRAN (NASDAQ:ADTN) last released its earnings results on Wednesday, May 7th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.05. ADTRAN had a negative return on equity of 20.07% and a negative net margin of 14.58%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.02 EPS. Equities analysts expect that ADTRAN will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On ADTRAN

Institutional investors and hedge funds have recently made changes to their positions in the company. Aquatic Capital Management LLC grew its position in shares of ADTRAN by 1,572.5% in the fourth quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider’s stock valued at $56,000 after purchasing an additional 6,290 shares during the last quarter. New York State Teachers Retirement System acquired a new position in shares of ADTRAN in the second quarter valued at approximately $65,000. FNY Investment Advisers LLC acquired a new position in shares of ADTRAN in the first quarter valued at approximately $65,000. Park Avenue Securities LLC acquired a new position in shares of ADTRAN in the second quarter valued at approximately $91,000. Finally, Ballentine Partners LLC acquired a new position in shares of ADTRAN in the first quarter valued at approximately $94,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Company Profile

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.