ADTRAN Holdings, Inc. (NASDAQ:ADTN) Given Average Rating of “Hold” by Analysts

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have received a consensus recommendation of “Hold” from the six ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $15.3333.

ADTN has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and issued a $14.00 target price on shares of ADTRAN in a research note on Thursday, February 26th. Argus upgraded ADTRAN to a “hold” rating in a research report on Wednesday, March 4th. Wall Street Zen raised shares of ADTRAN from a “buy” rating to a “strong-buy” rating in a report on Sunday, March 8th. Finally, Rosenblatt Securities raised their price objective on shares of ADTRAN from $11.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, February 27th.

Institutional Trading of ADTRAN

Several institutional investors and hedge funds have recently bought and sold shares of ADTN. Mackenzie Financial Corp increased its holdings in shares of ADTRAN by 33.9% in the fourth quarter. Mackenzie Financial Corp now owns 361,607 shares of the communications equipment provider’s stock worth $3,194,000 after purchasing an additional 91,457 shares during the period. XTX Topco Ltd boosted its stake in ADTRAN by 11.8% during the fourth quarter. XTX Topco Ltd now owns 66,690 shares of the communications equipment provider’s stock valued at $580,000 after buying an additional 7,033 shares during the period. Voloridge Investment Management LLC boosted its stake in ADTRAN by 685.0% during the fourth quarter. Voloridge Investment Management LLC now owns 146,148 shares of the communications equipment provider’s stock valued at $1,270,000 after buying an additional 127,530 shares during the period. Tudor Investment Corp ET AL grew its position in ADTRAN by 5.6% during the fourth quarter. Tudor Investment Corp ET AL now owns 947,508 shares of the communications equipment provider’s stock worth $8,234,000 after buying an additional 50,393 shares in the last quarter. Finally, Twinbeech Capital LP purchased a new position in ADTRAN during the fourth quarter worth about $96,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

ADTRAN Trading Up 8.5%

Shares of ADTN stock opened at $11.71 on Friday. The stock has a market capitalization of $944.53 million, a price-to-earnings ratio of -22.96 and a beta of 1.37. The company’s fifty day simple moving average is $9.82 and its two-hundred day simple moving average is $9.23. ADTRAN has a 1 year low of $6.93 and a 1 year high of $11.80. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.76 and a quick ratio of 1.16.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings results on Wednesday, February 25th. The communications equipment provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.08. The firm had revenue of $291.56 million during the quarter, compared to analyst estimates of $281.12 million. ADTRAN had a positive return on equity of 4.23% and a negative net margin of 4.15%.ADTRAN’s revenue was up 20.0% compared to the same quarter last year. As a group, analysts anticipate that ADTRAN will post -0.5 earnings per share for the current year.

ADTRAN Company Profile

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company’s product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.