ADTRAN Holdings, Inc. (NASDAQ:ADTN) Receives $18.00 Consensus Target Price from Brokerages

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $18.00.

Several analysts recently issued reports on the stock. Evercore assumed coverage on shares of ADTRAN in a research report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 target price for the company. B. Riley Financial reiterated a “buy” rating on shares of ADTRAN in a research report on Friday, May 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of ADTRAN in a research note on Tuesday, June 30th. Wall Street Zen raised shares of ADTRAN from a “buy” rating to a “strong-buy” rating in a research report on Monday. Finally, Rosenblatt Securities upped their price objective on ADTRAN from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th.

Institutional Trading of ADTRAN

Several hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new position in shares of ADTRAN in the third quarter worth about $36,000. Kestra Advisory Services LLC purchased a new position in shares of ADTRAN during the 4th quarter valued at about $36,000. ST Germain D J Co. Inc. grew its stake in shares of ADTRAN by 100.0% during the 4th 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 during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of ADTRAN during the 4th quarter valued at approximately $47,000. Finally, Freestone Grove Partners LP purchased a new stake in ADTRAN in the 4th quarter worth approximately $87,000. Institutional investors own 80.56% of the company’s stock.

ADTRAN Price Performance

ADTN stock opened at $11.65 on Friday. The company has a market cap of $943.65 million, a price-to-earnings ratio of -29.87 and a beta of 1.44. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.18 and a current ratio of 1.77. The business’s 50-day moving average is $14.75 and its two-hundred day moving average is $12.70. ADTRAN has a fifty-two week low of $7.11 and a fifty-two week high of $19.98.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. ADTRAN had a positive return on equity of 10.94% and a negative net margin of 3.18%.The business had revenue of $286.09 million during the quarter, compared to the consensus estimate of $285.48 million. During the same period in the previous year, the company posted $0.03 EPS. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, analysts forecast that ADTRAN will post 0.43 earnings per share for the current year.

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.