ADTRAN, Inc. (ADTN) Given Consensus Recommendation of “Hold” by Analysts
Shares of ADTRAN, Inc. (NASDAQ:ADTN) have been assigned an average recommendation of “Hold” from the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $24.00.
A number of research analysts have recently commented on the stock. BidaskClub cut shares of ADTRAN from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Zacks Investment Research cut shares of ADTRAN from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 23rd. Northland Securities set a $28.00 target price on shares of ADTRAN and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Finally, Needham & Company LLC boosted their target price on shares of ADTRAN from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th.
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In related news, SVP Kevin P. Heering sold 9,809 shares of the company’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $21.60, for a total value of $211,874.40. Following the sale, the senior vice president now directly owns 10,162 shares of the company’s stock, valued at $219,499.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Raymond R. Schansman sold 48,056 shares of the company’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $21.70, for a total transaction of $1,042,815.20. Following the completion of the sale, the senior vice president now directly owns 11,658 shares in the company, valued at $252,978.60. The disclosure for this sale can be found here. Corporate insiders own 2.96% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of ADTN. Public Employees Retirement System of Ohio raised its holdings in ADTRAN by 5.8% in the second quarter. Public Employees Retirement System of Ohio now owns 6,804 shares of the communications equipment provider’s stock valued at $141,000 after acquiring an additional 373 shares in the last quarter. Thompson Davis & CO. Inc. acquired a new stake in ADTRAN in the third quarter valued at $157,000. SG Americas Securities LLC acquired a new stake in ADTRAN in the third quarter valued at $190,000. State of Alaska Department of Revenue raised its holdings in ADTRAN by 78.0% in the second quarter. State of Alaska Department of Revenue now owns 9,524 shares of the communications equipment provider’s stock valued at $196,000 after acquiring an additional 4,174 shares in the last quarter. Finally, Suntrust Banks Inc. acquired a new stake in ADTRAN in the second quarter valued at $208,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ADTRAN (ADTN) traded up $0.20 during mid-day trading on Monday, reaching $21.25. 268,000 shares of the company’s stock were exchanged, compared to its average volume of 342,195. The firm has a market capitalization of $1,023.18, a PE ratio of 23.10, a price-to-earnings-growth ratio of 2.41 and a beta of 0.71. The company has a current ratio of 3.36, a quick ratio of 2.43 and a debt-to-equity ratio of 0.05. ADTRAN has a 1 year low of $18.92 and a 1 year high of $25.10.
ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings results on Tuesday, October 17th. The communications equipment provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.13. ADTRAN had a net margin of 6.05% and a return on equity of 9.05%. The firm had revenue of $185.11 million for the quarter, compared to analysts’ expectations of $185.43 million. research analysts anticipate that ADTRAN will post 0.88 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st were issued a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $0.36 annualized dividend and a yield of 1.69%. ADTRAN’s dividend payout ratio is presently 40.45%.
ADTRAN Company Profile
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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