ADTRAN, Inc. (ADTN) Given a $28.00 Price Target at Northland Securities
ADTRAN, Inc. (NASDAQ:ADTN) has been assigned a $28.00 price objective by equities researchers at Northland Securities in a report issued on Wednesday. The brokerage presently has a “buy” rating on the communications equipment provider’s stock. Northland Securities’ target price would suggest a potential upside of 25.28% from the stock’s previous close.
A number of other equities research analysts have also recently issued reports on ADTN. Needham & Company LLC upped their target price on shares of ADTRAN from $25.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, August 10th. BidaskClub cut shares of ADTRAN from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. Zacks Investment Research cut shares of ADTRAN from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $18.00 target price (up from $16.00) on shares of ADTRAN in a report on Saturday, July 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $24.14.
Shares of ADTRAN (NASDAQ:ADTN) traded down 0.22% during midday trading on Wednesday, hitting $22.30. The stock had a trading volume of 167,382 shares. The company’s 50 day moving average price is $23.09 and its 200-day moving average price is $21.36. The firm has a market capitalization of $1.07 billion, a PE ratio of 25.34 and a beta of 0.75. ADTRAN has a 1-year low of $17.55 and a 1-year high of $25.10.
ADTRAN (NASDAQ:ADTN) last issued its earnings results on Tuesday, October 17th. The communications equipment provider reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.13. The company had revenue of $185.11 million for the quarter, compared to analysts’ expectations of $185.43 million. ADTRAN had a net margin of 8.59% and a return on equity of 12.91%. Equities analysts predict that ADTRAN will post $0.85 earnings per share for the current year.
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In related news, SVP Michael Foliano sold 24,000 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.96% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio grew its stake in ADTRAN by 5.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,804 shares of the communications equipment provider’s stock valued at $141,000 after buying an additional 373 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in ADTRAN in the 2nd quarter valued at about $216,000. Dean Capital Management grew its stake in ADTRAN by 39.7% in the 2nd quarter. Dean Capital Management now owns 120,080 shares of the communications equipment provider’s stock valued at $2,480,000 after buying an additional 34,105 shares during the last quarter. State Street Corp grew its stake in ADTRAN by 4.3% in the 2nd quarter. State Street Corp now owns 1,332,947 shares of the communications equipment provider’s stock valued at $27,527,000 after buying an additional 54,671 shares during the last quarter. Finally, QS Investors LLC acquired a new position in ADTRAN in the 2nd quarter valued at about $1,917,000. Institutional investors and hedge funds own 89.47% 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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