Adtran Upgraded to Neutral at UBS AG (ADTN)
Adtran (NASDAQ:ADTN) was upgraded by research analysts at UBS AG from a “sell” rating to a “neutral” rating in a report released on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $24.00 target price on the stock. UBS AG’s price target suggests a potential downside of 1.40% from the company’s current price. The analysts noted that the move was a valuation call.
Shares of Adtran (NASDAQ:ADTN) traded up 2.71% on Thursday, hitting $25.00. 561,013 shares of the company’s stock traded hands. Adtran has a 1-year low of $15.38 and a 1-year high of $27.92. The stock’s 50-day moving average is $26.11 and its 200-day moving average is $24.02. The company has a market cap of $1.455 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. Analysts expect that Adtran will post $0.69 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, November 7th. Stockholders 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.
Other equities research analysts have also recently issued reports about the stock. Analysts at Needham & Company upgraded shares of Adtran from a “hold” rating to a “buy” rating in a research note to investors on Thursday. Separately, 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. Finally, 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 investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $22.18.
ADTRAN, Inc designs, manufactures and markets solutions and provides services and support for communications networks.
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