ADTRAN (NASDAQ:ADTN) was upgraded by analysts at Goldman Sachs Group from a “sell” rating to a “neutral” rating in a research report issued on Monday, The Fly reports.

A number of other equities research analysts also recently commented on ADTN. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price objective (down previously from $26.00) on shares of ADTRAN in a report on Friday. Cowen reiterated a “hold” rating and issued a $16.00 price objective on shares of ADTRAN in a report on Friday, December 29th. Zacks Investment Research downgraded ADTRAN from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. BidaskClub downgraded ADTRAN from a “hold” rating to a “sell” rating in a report on Saturday, December 30th. Finally, Northland Securities set a $28.00 price objective on ADTRAN and gave the company a “buy” rating in a report on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. ADTRAN has a consensus rating of “Hold” and a consensus price target of $23.21.

ADTRAN (ADTN) remained flat at $$19.70 during midday trading on Monday. The stock has a market capitalization of $948.55, a P/E ratio of 22.39, a P/E/G ratio of 2.86 and a beta of 0.77. The company has a quick ratio of 2.43, a current ratio of 3.36 and a debt-to-equity ratio of 0.05. ADTRAN has a 12 month low of $18.65 and a 12 month high of $25.10.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings data on Tuesday, October 17th. The communications equipment provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.13. The business had revenue of $185.11 million during the quarter, compared to the consensus estimate of $185.43 million. ADTRAN had a return on equity of 9.05% and a net margin of 6.05%. equities research analysts predict that ADTRAN will post 0.68 EPS for the current year.

In other ADTRAN news, SVP Raymond R. Schansman sold 48,056 shares of the business’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $21.70, for a total value of $1,042,815.20. Following the completion of the transaction, the senior vice president now directly owns 11,658 shares of the company’s stock, valued at $252,978.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kevin P. Heering sold 9,809 shares of the business’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $21.60, for a total value of $211,874.40. Following the completion of the transaction, the senior vice president now directly owns 10,162 shares of the company’s stock, valued at $219,499.20. The disclosure for this sale can be found here. 2.96% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of ADTN. Renaissance Technologies LLC grew its stake in ADTRAN by 25.4% in the second quarter. Renaissance Technologies LLC now owns 1,620,128 shares of the communications equipment provider’s stock valued at $33,456,000 after acquiring an additional 328,600 shares during the period. Northern Trust Corp grew its stake in ADTRAN by 37.1% in the second quarter. Northern Trust Corp now owns 914,639 shares of the communications equipment provider’s stock valued at $18,886,000 after acquiring an additional 247,413 shares during the period. FMR LLC grew its stake in ADTRAN by 167.6% in the second quarter. FMR LLC now owns 390,801 shares of the communications equipment provider’s stock valued at $8,070,000 after acquiring an additional 244,770 shares during the period. Prudential Financial Inc. grew its stake in ADTRAN by 204.4% in the second quarter. Prudential Financial Inc. now owns 278,871 shares of the communications equipment provider’s stock valued at $5,759,000 after acquiring an additional 187,250 shares during the period. Finally, Citadel Advisors LLC grew its stake in ADTRAN by 226.6% in the second quarter. Citadel Advisors LLC now owns 213,327 shares of the communications equipment provider’s stock valued at $4,405,000 after acquiring an additional 148,003 shares during the period. 91.37% of the stock is owned by hedge funds and other institutional investors.

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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.

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Analyst Recommendations for ADTRAN (NASDAQ:ADTN)

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