B. Riley Financial Reaffirms “Buy” Rating for ADTRAN (NASDAQ:ADTN)

ADTRAN (NASDAQ:ADTN)‘s stock had its “buy” rating reaffirmed by B. Riley Financial in a research note issued to investors on Thursday,Benzinga reports. They presently have a $21.00 target price on the communications equipment provider’s stock, down from their previous target price of $23.00. B. Riley Financial’s price target points to a potential upside of 113.20% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of ADTRAN in a report on Tuesday, June 30th. Evercore initiated coverage on ADTRAN in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 price objective on the stock. Wall Street Zen raised ADTRAN from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 20th. Rosenblatt Securities restated a “buy” rating and set a $20.00 target price on shares of ADTRAN in a report on Thursday. Finally, Northland Securities set a $18.00 price target on ADTRAN in a research note on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $18.20.

ADTRAN Price Performance

Shares of ADTRAN stock opened at $9.85 on Thursday. The firm has a market cap of $802.28 million, a PE 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. The company has a quick ratio of 1.18, a current ratio of 1.77 and a debt-to-equity ratio of 1.59. The company’s fifty day simple moving average is $14.30 and its two-hundred day simple moving average is $12.74.

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

Institutional Trading of ADTRAN

Several large investors have recently bought and sold shares of the company. Franklin Resources Inc. grew its holdings in shares of ADTRAN by 1.6% during the 4th quarter. Franklin Resources Inc. now owns 79,692 shares of the communications equipment provider’s stock worth $693,000 after acquiring an additional 1,263 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of ADTRAN by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,767 shares of the communications equipment provider’s stock valued at $408,000 after purchasing an additional 1,946 shares during the period. Occudo Quantitative Strategies LP boosted its position in shares of ADTRAN by 3.2% during the third quarter. Occudo Quantitative Strategies LP now owns 65,702 shares of the communications equipment provider’s stock valued at $616,000 after purchasing an additional 2,016 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of ADTRAN by 1.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 187,814 shares of the communications equipment provider’s stock valued at $1,632,000 after purchasing an additional 2,068 shares in the last quarter. Finally, ST Germain D J Co. Inc. grew its stake in ADTRAN by 100.0% in the fourth quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider’s stock worth $43,000 after purchasing an additional 2,500 shares during the period. 80.56% of the stock is owned by institutional investors.

Key Headlines Impacting ADTRAN

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.