MKM Partners Increases Adtran Price Target to $24.00 (ADTN)
Equities research analysts at MKM Partners upped their price objective on shares of Adtran (NASDAQ:ADTN) from $22.00 to $24.00 in a research note issued to investors on Thursday, AR Network reports. The firm currently has a “neutral” rating on the stock. MKM Partners’ target price indicates a potential downside of 12.62% from the stock’s previous close.
Shares of Adtran (NASDAQ:ADTN) traded down 0.49% during mid-day trading on Thursday, hitting $27.33. The stock had a trading volume of 44,413 shares. Adtran has a one year low of $15.38 and a one year high of $27.92. The stock has a 50-day moving average of $25.86 and a 200-day moving average of $23.18. The company has a market cap of $1.591 billion and a P/E ratio of 55.60.
Adtran (NASDAQ:ADTN) last issued its quarterly earnings data on Tuesday, July 9th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. The company had revenue of $162.23 million for the quarter, compared to the consensus estimate of $154.16 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was down 11.8% on a year-over-year basis. Analysts expect that Adtran will post $0.69 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated an “outperform” rating on shares of Adtran (NASDAQ:ADTN) in a research note to investors on Monday, July 22nd. They now have a $32.00 price target on the stock. Separately, analysts at Thomson Reuters/Verus downgraded shares of Adtran (NASDAQ:ADTN) from a “buy” rating to a “hold” rating in a research note to investors on Monday, July 22nd. Finally, analysts at UBS AG cut their price target on shares of Adtran (NASDAQ:ADTN) from $19.00 to $18.00 in a research note to investors on Thursday, July 11th. They now have a “sell” rating on the stock.
Six research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.21.
ADTRAN, Inc designs, manufactures and markets solutions and provides services and support for communications networks.
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