ADTRAN (NASDAQ:ADTN) Downgraded by Wall Street Zen to Buy

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

A number of other research analysts also recently issued reports on ADTN. Rosenblatt Securities upped their price target on ADTRAN from $11.00 to $16.00 and gave the company a “buy” rating in a report on Friday, February 27th. Argus upgraded ADTRAN to a “hold” rating in a report on Wednesday, March 4th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $14.00 target price on shares of ADTRAN in a research report on Thursday, February 26th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, ADTRAN has an average rating of “Hold” and an average target price of $15.33.

ADTRAN Price Performance

Shares of ADTN opened at $11.46 on Friday. The company has a market capitalization of $924.36 million, a P/E ratio of -22.47 and a beta of 1.37. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 1.50. The firm has a 50 day moving average of $9.93 and a 200 day moving average of $9.26. ADTRAN has a twelve month low of $6.93 and a twelve month high of $12.29.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings data on Wednesday, February 25th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.08. ADTRAN had a positive return on equity of 4.23% and a negative net margin of 4.15%.The business had revenue of $291.56 million for the quarter, compared to analysts’ expectations of $281.12 million. ADTRAN’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, equities research analysts anticipate that ADTRAN will post -0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Wolverine Asset Management LLC purchased a new stake in shares of ADTRAN during the 3rd quarter valued at about $2,443,000. Dynamic Technology Lab Private Ltd boosted its holdings in shares of ADTRAN by 106.7% in the third quarter. Dynamic Technology Lab Private Ltd now owns 116,368 shares of the communications equipment provider’s stock worth $1,092,000 after buying an additional 60,070 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new stake in ADTRAN during the third quarter valued at approximately $1,379,000. Granahan Investment Management LLC grew its position in ADTRAN by 190.8% during the third quarter. Granahan Investment Management LLC now owns 582,490 shares of the communications equipment provider’s stock valued at $5,464,000 after buying an additional 382,170 shares during the period. Finally, Squarepoint Ops LLC increased its holdings in ADTRAN by 56.4% during the second quarter. Squarepoint Ops LLC now owns 630,846 shares of the communications equipment provider’s stock valued at $5,659,000 after buying an additional 227,448 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

ADTRAN Company Profile

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company’s product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.