ADTRAN, Inc. (NASDAQ:ADTN)‘s stock had its “market perform” rating restated by equities researchers at Cowen and Company in a research note issued on Saturday. They currently have a $18.00 price objective on the communications equipment provider’s stock, up from their previous price objective of $16.00. Cowen and Company’s price target indicates a potential downside of 22.75% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. Northland Securities restated a “buy” rating on shares of ADTRAN in a research report on Friday. Zacks Investment Research upgraded shares of ADTRAN from a “hold” rating to a “strong-buy” rating and set a $25.00 price target for the company in a research report on Friday. Needham & Company LLC upped their price target on shares of ADTRAN from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday. MKM Partners restated a “buy” rating and set a $26.50 price target (down previously from $27.50) on shares of ADTRAN in a research report on Monday, April 24th. Finally, Argus upgraded shares of ADTRAN from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Thursday, April 20th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. ADTRAN currently has a consensus rating of “Buy” and a consensus target price of $23.43.

Shares of ADTRAN (NASDAQ:ADTN) traded down 2.10% on Friday, hitting $23.30. The stock had a trading volume of 456,317 shares. The firm’s 50-day moving average price is $20.52 and its 200 day moving average price is $20.85. The firm has a market cap of $1.13 billion, a P/E 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.

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

COPYRIGHT VIOLATION NOTICE: “ADTRAN, Inc. (NASDAQ:ADTN) Rating Reiterated by Cowen and Company” was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this report can be read at https://www.americanbankingnews.com/2017/07/22/adtran-inc-nasdaqadtn-rating-reiterated-by-cowen-and-company.html.

Hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of ADTRAN by 9.6% in the fourth quarter. State Street Corp now owns 1,187,312 shares of the communications equipment provider’s stock valued at $26,537,000 after buying an additional 103,899 shares in the last quarter. FMR LLC boosted its stake in shares of ADTRAN by 1.1% in the fourth quarter. FMR LLC now owns 100,051 shares of the communications equipment provider’s stock valued at $2,236,000 after buying an additional 1,055 shares in the last quarter. Guggenheim Capital LLC boosted its stake in shares of ADTRAN by 124.0% in the fourth quarter. Guggenheim Capital LLC now owns 25,220 shares of the communications equipment provider’s stock valued at $563,000 after buying an additional 13,959 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of ADTRAN by 5.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 25,970 shares of the communications equipment provider’s stock valued at $580,000 after buying an additional 1,370 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of ADTRAN during the fourth quarter valued at about $8,783,000. 91.50% of the stock is owned by institutional investors.

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)

Receive News & Ratings for ADTRAN Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ADTRAN Inc. and related companies with MarketBeat.com's FREE daily email newsletter.