Goldman Sachs Group Inc. Lowers Adtran Price Target to $27.00 (ADTN)
Equities researchers at Goldman Sachs Group Inc. lowered their price target on shares of Adtran (NASDAQ:ADTN) from $30.00 to $27.00 in a research report issued on Thursday, AR Network reports. The firm currently has a “buy” rating on the stock. Goldman Sachs Group Inc.’s price target suggests a potential upside of 8.26% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Cowen and Company raised their price target on shares of Adtran from $16.00 to $18.00 in a research note to investors on Thursday. They now have an “underperform” rating on the stock. Separately, 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. Finally, 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. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $22.38.
Shares of Adtran (NASDAQ:ADTN) traded up 2.47% on Thursday, hitting $24.94. The stock had a trading volume of 1,174,496 shares. Adtran has a 1-year low of $15.38 and a 1-year 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 P/E ratio of 49.27.
Adtran (NASDAQ:ADTN) last posted its quarterly 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. Investors 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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