Adtran PT Raised to $18.00 (ADTN)
Investment analysts at Cowen and Company upped their target price on shares of Adtran (NASDAQ:ADTN) from $16.00 to $18.00 in a note issued to investors on Thursday, AnalystRatings.NET reports. The firm currently has an “underperform” rating on the stock. Cowen and Company’s target price points to a potential downside of 27.83% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at UBS AG upgraded shares of Adtran from a “sell” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $24.00 price target on the stock, up previously from $18.00. They noted that the move was a valuation call. Separately, analysts at Needham & Company upgraded shares of Adtran from a “hold” rating to a “buy” rating in a research note to investors on Thursday. They now have a $30.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Adtran from an “outperform” rating to a “neutral” rating in a research note to investors on Monday. They now have a $28.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.38.
Adtran (NASDAQ:ADTN) traded up 2.47% during mid-day trading on Thursday, hitting $24.94. 1,174,496 shares of the company’s stock traded hands. Adtran has a 52-week low of $15.38 and a 52-week high of $27.92. The stock has a 50-day moving average of $26.16 and a 200-day moving average of $24.03. The company has a market cap of $1.452 billion and a price-to-earnings ratio of 49.27.
Adtran (NASDAQ:ADTN) last announced its earnings results on Wednesday, October 9th. The company reported $0.28 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.22 by $0.06. The company had revenue of $177.40 million for the quarter, compared to the consensus estimate of $175.10 million. On average, analysts predict that Adtran will post $0.69 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, November 7th. Shareholders of record on Thursday, October 24th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Tuesday, October 22nd.
ADTRAN, Inc designs, manufactures and markets solutions and provides services and support for communications networks.
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