ADTRAN, Inc. (NASDAQ:ADTN)‘s stock had its “buy” rating reissued by equities researchers at Northland Securities in a research report issued to clients and investors on Friday.

Several other equities research analysts have also recently weighed in on ADTN. Needham & Company LLC decreased their price target on ADTRAN from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, April 20th. Argus raised ADTRAN from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Thursday, April 20th. MKM Partners reissued a “buy” rating and issued a $26.50 price target (down previously from $27.50) on shares of ADTRAN in a research note on Monday, April 24th. Finally, Zacks Investment Research raised ADTRAN from a “hold” rating to a “strong-buy” rating and set a $25.00 price target for the company in a research note on Friday. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $24.33.

ADTRAN (NASDAQ:ADTN) traded down 2.10% during trading on Friday, reaching $23.30. The company had a trading volume of 456,317 shares. The firm has a market capitalization of $1.13 billion, a PE ratio of 30.66 and a beta of 0.62. ADTRAN has a 12-month low of $17.55 and a 12-month high of $23.90. The firm’s 50 day moving average price is $20.52 and its 200 day moving average price is $20.85.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings results on Tuesday, July 18th. The communications equipment provider reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.11. The company had revenue of $184.67 million during the quarter, compared to analysts’ expectations of $183.05 million. ADTRAN had a return on equity of 8.39% and a net margin of 5.68%. During the same quarter in the prior year, the firm posted $0.21 earnings per share. Analysts anticipate that ADTRAN will post $0.81 earnings per share for the current year.

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Large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of ADTRAN by 75,959.4% in the first quarter. BlackRock Inc. now owns 5,930,353 shares of the communications equipment provider’s stock valued at $123,054,000 after buying an additional 5,922,556 shares during the last quarter. Norges Bank acquired a new stake in shares of ADTRAN during the fourth quarter valued at approximately $8,783,000. Victory Capital Management Inc. raised its stake in shares of ADTRAN by 10.2% in the first quarter. Victory Capital Management Inc. now owns 3,835,026 shares of the communications equipment provider’s stock valued at $79,577,000 after buying an additional 356,159 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of ADTRAN by 6.0% in the first quarter. Vanguard Group Inc. now owns 4,434,998 shares of the communications equipment provider’s stock valued at $92,026,000 after buying an additional 252,733 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of ADTRAN by 6.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,870,230 shares of the communications equipment provider’s stock valued at $59,558,000 after buying an additional 172,439 shares during the last quarter. Institutional investors own 91.50% of the company’s stock.

About ADTRAN

ADTRAN, Inc (ADTRAN) 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: Network Solutions and Services & Support. Network Solutions includes software and hardware products that enable CSPs and enterprise customers to realize a fully connected world.

Analyst Recommendations for ADTRAN (NASDAQ:ADTN)

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