ADTRAN (NASDAQ:ADTN)‘s stock had its “buy” rating reiterated by Northland Securities in a note issued to investors on Thursday. They currently have a $23.00 target price on the communications equipment provider’s stock. Northland Securities’ price objective points to a potential upside of 37.97% from the company’s current price.

Several other research firms have also recently issued reports on ADTN. BidaskClub upgraded shares of ADTRAN from a “sell” rating to a “hold” rating in a research report on Thursday, December 21st. MKM Partners reduced their price objective on shares of ADTRAN from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, December 29th. Zacks Investment Research lowered shares of ADTRAN from a “strong-buy” rating to a “hold” rating in a report on Monday, October 23rd. Goldman Sachs Group raised shares of ADTRAN from a “sell” rating to a “neutral” rating and set a $17.00 target price for the company in a report on Monday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $22.00 target price (down from $26.00) on shares of ADTRAN in a report on Friday, January 12th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. ADTRAN presently has a consensus rating of “Hold” and an average target price of $21.41.

ADTRAN (NASDAQ ADTN) traded down $2.18 during trading on Thursday, hitting $16.67. 2,068,969 shares of the stock traded hands, compared to its average volume of 682,592. The company has a market capitalization of $938.92, a PE ratio of 18.73, a P/E/G ratio of 2.83 and a beta of 0.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.43 and a current ratio of 3.36. ADTRAN has a 52-week low of $16.52 and a 52-week high of $25.10.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings data on Tuesday, January 16th. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The firm had revenue of $126.52 million for the quarter, compared to analysts’ expectations of $125.90 million. ADTRAN had a net margin of 6.05% and a return on equity of 9.05%. sell-side analysts expect that ADTRAN will post 0.68 earnings per share for the current fiscal year.

In other ADTRAN news, SVP Kevin P. Heering sold 9,809 shares of ADTRAN stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $21.60, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Raymond R. Schansman sold 48,056 shares of ADTRAN stock in a transaction on Friday, October 20th. The stock was sold at an average price of $21.70, for a total transaction of $1,042,815.20. Following the transaction, the senior vice president now directly owns 11,658 shares of the company’s stock, valued at $252,978.60. The disclosure for this sale can be found here. Company insiders own 2.96% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue boosted its stake in ADTRAN by 2.1% during the first quarter. State of Alaska Department of Revenue now owns 5,350 shares of the communications equipment provider’s stock worth $111,000 after buying an additional 110 shares during the period. PineBridge Investments L.P. boosted its stake in ADTRAN by 3.6% during the second quarter. PineBridge Investments L.P. now owns 6,126 shares of the communications equipment provider’s stock worth $114,000 after buying an additional 212 shares during the period. Public Employees Retirement System of Ohio boosted its stake in ADTRAN by 2.6% during the second quarter. Public Employees Retirement System of Ohio now owns 6,943 shares of the communications equipment provider’s stock worth $129,000 after buying an additional 177 shares during the period. Teacher Retirement System of Texas boosted its stake in ADTRAN by 13.5% during the second quarter. Teacher Retirement System of Texas now owns 6,960 shares of the communications equipment provider’s stock worth $130,000 after buying an additional 830 shares during the period. Finally, Nordea Investment Management AB boosted its stake in ADTRAN by 12.8% during the first quarter. Nordea Investment Management AB now owns 7,059 shares of the communications equipment provider’s stock worth $146,000 after buying an additional 800 shares during the period. 91.37% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for ADTRAN (NASDAQ:ADTN)

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