Jefferies Group Reaffirms “Hold” Rating for ADTRAN (ADTN)

ADTRAN (NASDAQ:ADTN)‘s stock had its “hold” rating reiterated by equities research analysts at Jefferies Group in a research note issued on Thursday. They currently have a $17.25 price target on the communications equipment provider’s stock. Jefferies Group’s price target would indicate a potential upside of 3.48% from the stock’s current price.

ADTN has been the topic of several other research reports. BidaskClub lowered shares of ADTRAN from a “hold” rating to a “sell” rating in a research report on Saturday, December 30th. MKM Partners reduced their price target 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. Northland Securities reiterated a “buy” rating and set a $23.00 price target on shares of ADTRAN in a research report on Thursday. Goldman Sachs Group upgraded shares of ADTRAN from a “sell” rating to a “neutral” rating and set a $17.00 price target on the stock in a research report on Monday. Finally, Zacks Investment Research lowered shares of ADTRAN from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 23rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $21.41.

Shares of ADTRAN (NASDAQ ADTN) traded down $2.18 during trading hours on Thursday, hitting $16.67. 2,068,969 shares of the company’s stock were exchanged, compared to its average volume of 682,592. ADTRAN has a 1 year low of $16.52 and a 1 year high of $25.10. The firm has a market cap of $938.92, a price-to-earnings ratio of 18.73, a PEG 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 (NASDAQ:ADTN) last announced its earnings results on Tuesday, January 16th. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.04. ADTRAN had a net margin of 6.05% and a return on equity of 9.05%. The firm had revenue of $126.52 million for the quarter, compared to analyst estimates of $125.90 million. analysts forecast that ADTRAN will post 0.68 earnings per share for the current fiscal year.

In related news, SVP Raymond R. Schansman sold 48,056 shares of the stock in a transaction that occurred on Friday, October 20th. The shares were 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 owns 11,658 shares of the company’s stock, valued at approximately $252,978.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Kevin P. Heering sold 9,809 shares of the stock in a transaction that occurred 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 approximately $219,499.20. The disclosure for this sale can be found here. 2.96% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. lifted its stake in ADTRAN by 2.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 442,932 shares of the communications equipment provider’s stock valued at $8,571,000 after purchasing an additional 11,252 shares during the last quarter. Atlantic Trust Group LLC bought a new position in shares of ADTRAN during the third quarter valued at $1,198,000. Algert Global LLC raised its stake in shares of ADTRAN by 19.8% during the third quarter. Algert Global LLC now owns 131,331 shares of the communications equipment provider’s stock valued at $3,152,000 after acquiring an additional 21,727 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of ADTRAN by 4.9% during the third quarter. California Public Employees Retirement System now owns 187,914 shares of the communications equipment provider’s stock valued at $4,510,000 after acquiring an additional 8,814 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of ADTRAN during the third quarter valued at $447,000. 91.37% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for ADTRAN (NASDAQ:ADTN)

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