ADTRAN (ADTN) Rating Lowered to Strong Sell at BidaskClub

ADTRAN (NASDAQ:ADTN) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Friday.

ADTN has been the subject of several other research reports. Zacks Investment Research upgraded shares of ADTRAN from a “hold” rating to a “strong-buy” rating and set a $26.00 target price for the company in a report on Friday, October 20th. Northland Securities set a $28.00 price target on shares of ADTRAN and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Needham & Company LLC reiterated a “buy” rating and set a $22.00 price target (down previously from $26.00) on shares of ADTRAN in a research note on Friday, January 12th. Cowen reiterated a “hold” rating and set a $16.00 price target on shares of ADTRAN in a research note on Friday, December 29th. Finally, Goldman Sachs Group upgraded shares of ADTRAN from a “sell” rating to a “neutral” rating and set a $17.00 price target for the company in a research note on Monday, January 15th. Two equities 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 company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $21.41.

Shares of ADTRAN (NASDAQ:ADTN) traded down $0.28 during trading on Friday, hitting $16.40. 1,040,926 shares of the stock traded hands, compared to its average volume of 533,353. ADTRAN has a fifty-two week low of $16.25 and a fifty-two week high of $25.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.43 and a current ratio of 3.98. The firm has a market cap of $789.66, a PE ratio of 32.80, a price-to-earnings-growth ratio of 2.38 and a beta of 0.77.

ADTRAN (NASDAQ:ADTN) last issued its earnings results 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. ADTRAN had a net margin of 3.58% and a return on equity of 7.95%. The business had revenue of $126.52 million during the quarter, compared to analysts’ expectations of $125.90 million. analysts expect that ADTRAN will post 0.29 earnings per share for the current year.

In other news, SVP Kevin P. Heering sold 9,809 shares of the firm’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 completion of the sale, the senior vice president now owns 10,162 shares in the company, valued at approximately $219,499.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.96% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in ADTN. Schwab Charles Investment Management Inc. lifted its stake in shares of ADTRAN by 6.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 409,976 shares of the communications equipment provider’s stock worth $8,467,000 after acquiring an additional 25,208 shares during the period. Legal & General Group Plc lifted its stake in shares of ADTRAN by 8.2% in the 2nd quarter. Legal & General Group Plc now owns 90,946 shares of the communications equipment provider’s stock worth $1,877,000 after acquiring an additional 6,910 shares during the period. JPMorgan Chase & Co. lifted its stake 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 during the period. TIAA CREF Investment Management LLC lifted its stake in shares of ADTRAN by 18.5% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 160,262 shares of the communications equipment provider’s stock worth $3,309,000 after acquiring an additional 25,056 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of ADTRAN by 40.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 378,523 shares of the communications equipment provider’s stock worth $7,817,000 after acquiring an additional 109,316 shares during the period. Institutional investors own 91.37% of the company’s stock.

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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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