Shares of Adtran Inc. (NASDAQ:ADTN) have been assigned an average recommendation of “Hold” from the eleven brokerages that are presently covering the firm. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $22.06.

A number of brokerages have weighed in on ADTN. Zacks Investment Research lowered Adtran from a “buy” rating to a “hold” rating in a research note on Tuesday, June 14th. MKM Partners reiterated a “buy” rating and issued a $24.00 price objective on shares of Adtran in a report on Sunday, July 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price objective on shares of Adtran in a report on Thursday, July 14th.

A number of large investors have recently added to or reduced their stakes in the company. Mason Street Advisors LLC acquired a new stake in Adtran during the second quarter valued at $179,000. Public Employees Retirement System of Ohio boosted its stake in Adtran by 2.6% in the second quarter. Public Employees Retirement System of Ohio now owns 6,943 shares of the company’s stock valued at $129,000 after buying an additional 177 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Adtran by 2.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 309,189 shares of the company’s stock valued at $5,767,000 after buying an additional 6,524 shares during the period. Stifel Financial Corp acquired a new stake in Adtran during the second quarter valued at $1,315,000. Finally, Arizona State Retirement System boosted its stake in Adtran by 0.8% in the second quarter. Arizona State Retirement System now owns 25,445 shares of the company’s stock valued at $475,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 96.10% of the company’s stock.

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Shares of Adtran (NASDAQ:ADTN) traded up 1.20% during midday trading on Wednesday, reaching $18.55. The company’s stock had a trading volume of 82,780 shares. Adtran has a 12-month low of $13.92 and a 12-month high of $21.43. The company has a market capitalization of $897.78 million, a P/E ratio of 32.89 and a beta of 1.05. The company’s 50-day moving average price is $18.30 and its 200 day moving average price is $18.81.

Adtran Company Profile

ADTRAN, Inc is a provider of networking and communications equipment. The Company’s solutions enable voice, data, video and Internet communications across a range of network infrastructures. It operates through two segments: the Carrier Networks Division and the Enterprise Networks Division. Its Carrier Networks Division supplies the network access products, services and supports that service providers require to connect their customers to transmission and switching networks.

5 Day Chart for NASDAQ:ADTN

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