ADTRAN, Inc. (ADTN) Receives Average Rating of “Buy” from Analysts
ADTRAN, Inc. (NASDAQ:ADTN) has been assigned a consensus rating of “Buy” from the eight analysts that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $23.50.
ADTN has been the topic of several recent research reports. Needham & Company LLC cut their price target on ADTRAN from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, April 20th. Argus upgraded ADTRAN from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Thursday, April 20th. MKM Partners restated a “buy” rating and set a $26.50 price target (down previously from $27.50) on shares of ADTRAN in a report on Monday, April 24th. Northland Securities restated a “buy” rating and set a $24.00 price target on shares of ADTRAN in a report on Tuesday, July 4th. Finally, Zacks Investment Research upgraded ADTRAN from a “hold” rating to a “strong-buy” rating and set a $25.00 price target on the stock in a report on Friday, July 21st.
Shares of ADTRAN (NASDAQ:ADTN) remained flat at $21.80 during midday trading on Friday. 359,184 shares of the stock were exchanged. The company has a 50 day moving average of $21.69 and a 200 day moving average of $20.93. ADTRAN has a 1-year low of $17.55 and a 1-year high of $24.05. The firm has a market capitalization of $1.04 billion, a P/E ratio of 27.22 and a beta of 0.65.
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, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.11. ADTRAN had a return on equity of 8.39% and a net margin of 5.68%. The company had revenue of $184.67 million for the quarter, compared to the consensus estimate of $183.05 million. During the same quarter in the prior year, the business earned $0.21 EPS. On average, equities research analysts anticipate that ADTRAN will post $0.81 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd will be issued a $0.09 dividend. The ex-dividend date is Tuesday, August 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.65%. ADTRAN’s payout ratio is currently 43.90%.
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In other news, SVP Michael Foliano sold 24,000 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $23.77, for a total value of $570,480.00. Following the transaction, the senior vice president now owns 5,417 shares in the company, valued at approximately $128,762.09. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.96% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADTN. FMR LLC increased its position in ADTRAN by 1.1% in the fourth quarter. FMR LLC now owns 100,051 shares of the communications equipment provider’s stock worth $2,236,000 after buying an additional 1,055 shares during the last quarter. Guggenheim Capital LLC increased its position in ADTRAN by 124.0% in the fourth quarter. Guggenheim Capital LLC now owns 25,220 shares of the communications equipment provider’s stock worth $563,000 after buying an additional 13,959 shares during the last quarter. Norges Bank acquired a new position in ADTRAN during the fourth quarter worth approximately $8,783,000. Teachers Advisors LLC increased its position in ADTRAN by 5.7% in the fourth quarter. Teachers Advisors LLC now owns 85,426 shares of the communications equipment provider’s stock worth $1,909,000 after buying an additional 4,602 shares during the last quarter. Finally, Fox Run Management L.L.C. increased its position in ADTRAN by 31.5% in the first quarter. Fox Run Management L.L.C. now owns 26,700 shares of the communications equipment provider’s stock worth $554,000 after buying an additional 6,400 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.
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.
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