Adtran Stock Rating Upgraded by Needham & Company (ADTN)
Adtran (NASDAQ:ADTN) was upgraded by research analysts at Needham & Company from a “hold” rating to a “buy” rating in a report released on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $30.00 price target on the stock. Needham & Company’s price objective would indicate a potential upside of 23.25% from the stock’s previous close.
A number of other analysts have also recently weighed in on ADTN. 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. Separately, analysts at MKM Partners raised their price target on shares of Adtran from $22.00 to $24.00 in a research note to investors on Thursday, September 12th. They now have a “neutral” rating on the stock. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $22.83.
Adtran (NASDAQ:ADTN) traded up 2.47% on Thursday, hitting $24.94. 585,565 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 $26.11 and a 200-day moving average of $24.02. The company has a market cap of $1.452 billion and a price-to-earnings ratio of 49.27.
Adtran (NASDAQ:ADTN) last released its earnings data on Wednesday, October 9th. The company reported $0.28 earnings per share for the quarter, beating the analysts’ 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 1.48%. 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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