ADTRAN (NASDAQ:ADTN) Hits New 52-Week High – Should You Buy?

ADTRAN Holdings, Inc. (NASDAQ:ADTN)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $19.98 and last traded at $19.40, with a volume of 6973219 shares trading hands. The stock had previously closed at $16.49.

Analysts Set New Price Targets

ADTN has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of ADTRAN in a report on Wednesday, May 6th. Northland Securities set a $18.00 target price on shares of ADTRAN in a report on Wednesday, May 6th. Wall Street Zen downgraded shares of ADTRAN from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 17th. Evercore initiated coverage on shares of ADTRAN in a report on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 target price on the stock. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of ADTRAN in a report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, ADTRAN presently has a consensus rating of “Hold” and an average target price of $18.00.

ADTRAN Trading Down 2.2%

The company has a market capitalization of $1.34 billion, a PE ratio of -42.44 and a beta of 1.45. 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 firm’s 50 day simple moving average is $14.98 and its 200-day simple moving average is $11.17.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Tuesday, May 5th. The communications equipment provider reported $0.14 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $286.09 million for the quarter, compared to the consensus estimate of $285.48 million. During the same period in the prior year, the firm posted $0.03 EPS. The firm’s revenue was up 15.5% compared to the same quarter last year. As a group, equities research analysts anticipate that ADTRAN Holdings, Inc. will post 0.43 EPS for the current year.

Institutional Trading of ADTRAN

Institutional investors have recently made changes to their positions in the stock. Quarry LP bought a new position in shares of ADTRAN in the third quarter valued at approximately $36,000. Kestra Advisory Services LLC bought a new position in shares of ADTRAN in the fourth quarter valued at approximately $36,000. ST Germain D J Co. Inc. raised its position in shares of 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 valued at $43,000 after purchasing an additional 2,500 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of ADTRAN in the fourth quarter valued at approximately $47,000. Finally, Freestone Grove Partners LP bought a new position in ADTRAN during the fourth quarter worth $87,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

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.