ADTRAN (NASDAQ:ADTN) Now Covered by Evercore

Evercore started coverage on shares of ADTRAN (NASDAQ:ADTN) in a report published on Tuesday morning, MarketBeat reports. The brokerage issued an outperform rating and a $18.00 price objective on the communications equipment provider’s stock.

Other analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of ADTRAN from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of ADTRAN in a research report on Thursday, April 2nd. Argus raised shares of ADTRAN to a “hold” rating in a research report on Wednesday, March 4th. Needham & Company LLC set a $18.00 price target on shares of ADTRAN and gave the stock a “buy” rating in a research report on Thursday, April 9th. Finally, Rosenblatt Securities increased their price target on shares of ADTRAN from $11.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, ADTRAN presently has an average rating of “Hold” and an average target price of $17.00.

ADTRAN Stock Up 2.2%

Shares of ADTN opened at $15.30 on Tuesday. The stock has a market capitalization of $1.23 billion, a PE ratio of -30.00 and a beta of 1.23. ADTRAN has a 1 year low of $7.06 and a 1 year high of $15.70. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.16 and a current ratio of 1.76. The company’s 50-day simple moving average is $11.28 and its 200-day simple moving average is $9.69.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings results on Thursday, February 26th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.08. The business had revenue of $291.56 million for the quarter, compared to analysts’ expectations of $281.12 million. ADTRAN had a negative net margin of 4.15% and a positive return on equity of 4.23%. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. Analysts forecast that ADTRAN will post -0.5 earnings per share for the current fiscal year.

Institutional Trading of ADTRAN

Hedge funds have recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. acquired a new stake in ADTRAN in the second quarter valued at approximately $27,000. State of Alaska Department of Revenue acquired a new stake in ADTRAN in the third quarter valued at approximately $36,000. Quarry LP acquired a new stake in ADTRAN in the third quarter valued at approximately $36,000. Kestra Advisory Services LLC acquired a new stake in ADTRAN in the fourth quarter valued at approximately $36,000. Finally, ST Germain D J Co. Inc. raised its holdings in ADTRAN by 100.0% in the fourth quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider’s stock valued at $43,000 after acquiring an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

About ADTRAN

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.