ADTRAN (NASDAQ:ADTN) was downgraded by equities researchers at TheStreet from a “b” rating to a “c+” rating in a research report issued on Wednesday.

Other equities research analysts have also recently issued research reports about the company. Northland Securities reiterated a “buy” rating and issued a $23.00 price objective on shares of ADTRAN in a report on Thursday. Jefferies Group reiterated a “hold” rating and issued a $17.25 price objective on shares of ADTRAN in a report on Thursday. BidaskClub cut ADTRAN from a “sell” rating to a “strong sell” rating in a report on Friday. 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, January 12th. Finally, Zacks Investment Research cut ADTRAN from a “strong-buy” rating to a “hold” rating in a report on Monday, October 23rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $21.41.

Shares of ADTRAN (NASDAQ ADTN) traded down $0.27 during mid-day trading on Wednesday, reaching $16.40. The company had a trading volume of 1,046,202 shares, compared to its average volume of 710,600. The stock has a market cap of $789.65, a PE ratio of 33.47, a PEG ratio of 2.73 and a beta of 0.77. ADTRAN has a 52 week low of $16.25 and a 52 week high of $25.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.98 and a quick ratio of 2.43.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings data on Tuesday, January 16th. The communications equipment provider reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. ADTRAN had a return on equity of 7.95% and a net margin of 3.58%. The business had revenue of $126.52 million during the quarter, compared to analysts’ expectations of $125.90 million. research analysts anticipate that ADTRAN will post 0.69 EPS for the current fiscal year.

In other news, SVP Kevin P. Heering sold 9,809 shares of the stock in a transaction that occurred on Monday, October 23rd. The stock was 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 owns 10,162 shares of the company’s stock, valued at approximately $219,499.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.96% of the company’s stock.

Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC raised its position in shares of ADTRAN by 25.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,620,128 shares of the communications equipment provider’s stock worth $33,456,000 after acquiring an additional 328,600 shares in the last quarter. Granite Investment Partners LLC raised its position in shares of ADTRAN by 6.1% in the 3rd quarter. Granite Investment Partners LLC now owns 562,588 shares of the communications equipment provider’s stock worth $13,502,000 after acquiring an additional 32,519 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of ADTRAN in the 3rd quarter worth approximately $1,504,000. JPMorgan Chase & Co. raised its position in shares of ADTRAN by 46.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 258,431 shares of the communications equipment provider’s stock worth $5,336,000 after acquiring an additional 82,134 shares in the last quarter. Finally, State Street Corp raised its position in shares of ADTRAN by 4.3% in the 2nd quarter. State Street Corp now owns 1,332,947 shares of the communications equipment provider’s stock worth $27,527,000 after acquiring an additional 54,671 shares in the last quarter. 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.

Analyst Recommendations for ADTRAN (NASDAQ:ADTN)

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