ADTRAN (NASDAQ:ADTN) Earns Buy Rating from Rosenblatt Securities

ADTRAN (NASDAQ:ADTN)‘s stock had its “buy” rating reaffirmed by research analysts at Rosenblatt Securities in a research note issued on Thursday,Benzinga reports. They currently have a $20.00 target price on the communications equipment provider’s stock. Rosenblatt Securities’ price objective suggests a potential upside of 103.05% from the company’s current price.

ADTN has been the topic of a number of other reports. Needham & Company LLC dropped their target price on shares of ADTRAN from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday. Evercore started coverage on shares of ADTRAN in a research note on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price target for the company. Wall Street Zen upgraded ADTRAN from a “buy” rating to a “strong-buy” rating in a report on Monday, July 20th. Northland Securities set a $18.00 price objective on ADTRAN in a research note on Wednesday, May 6th. Finally, B. Riley Financial restated a “buy” rating on shares of ADTRAN in a report on Friday, May 1st. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, ADTRAN has an average rating of “Moderate Buy” and an average target price of $18.20.

ADTRAN Stock Down 3.0%

Shares of ADTN opened at $9.85 on Thursday. The firm has a fifty day moving average price of $14.30 and a 200-day moving average price of $12.74. The company has a current ratio of 1.77, a quick ratio of 1.18 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $802.28 million, a P/E ratio of -25.26 and a beta of 1.44. ADTRAN has a 12-month low of $7.11 and a 12-month high of $19.98.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 EPS for the quarter, topping the consensus estimate of $0.09 by $0.05. ADTRAN had a negative net margin of 3.18% and a positive return on equity of 10.94%. The company had revenue of $286.09 million for the quarter, compared to the consensus estimate of $285.48 million. During the same quarter last year, the firm posted $0.03 EPS. The firm’s revenue was up 15.5% compared to the same quarter last year. Equities research analysts expect that ADTRAN will post 0.43 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. raised its holdings in shares of ADTRAN by 100.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 917,754 shares of the communications equipment provider’s stock valued at $12,757,000 after purchasing an additional 459,802 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of ADTRAN by 12.4% during the first quarter. Bank of America Corp DE now owns 367,226 shares of the communications equipment provider’s stock valued at $4,620,000 after purchasing an additional 40,595 shares in the last quarter. Quantinno Capital Management LP boosted its stake in shares of ADTRAN by 18.7% during the first quarter. Quantinno Capital Management LP now owns 52,455 shares of the communications equipment provider’s stock valued at $660,000 after purchasing an additional 8,281 shares in the last quarter. Entropy Technologies LP increased its holdings in ADTRAN by 53.6% during the first quarter. Entropy Technologies LP now owns 15,793 shares of the communications equipment provider’s stock valued at $199,000 after buying an additional 5,510 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in ADTRAN by 60.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 455,647 shares of the communications equipment provider’s stock valued at $5,732,000 after buying an additional 171,145 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

More ADTRAN News

Here are the key news stories impacting ADTRAN this week:

• Positive Sentiment: ADTRAN announced a new senior secured credit facility led by JPMorgan Chase, which should improve liquidity, lower borrowing costs, and give the company more financial flexibility. ADTRAN Strengthens Capital Structure with New Senior Secured Credit Facility
• Positive Sentiment: B. Riley and Rosenblatt both reiterated buy ratings on ADTRAN, signaling that some analysts still see substantial upside from current levels, even though B. Riley trimmed its price target.
• Neutral Sentiment: Needham lowered its price target on ADTRAN but kept a buy rating, which suggests valuation expectations have become more cautious while the longer-term outlook remains constructive.
• Negative Sentiment: A PR Newswire notice says Levi & Korsinsky is investigating whether ADTRAN adequately disclosed risks tied to customer project timing and the impact on revenue and operating results, adding a legal overhang. ADTRAN Holdings Investigation Notice
• Negative Sentiment: Investor concern may also be amplified by reports that the company’s latest preliminary results missed guidance, reinforcing worries about near-term execution and demand visibility.

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.