ADTRAN Holdings, Inc. (NASDAQ:ADTN) Receives $18.00 Consensus Target Price from Brokerages

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has been given an average rating of “Hold” by the seven brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $18.00.

Several analysts recently commented on the company. Argus upgraded ADTRAN to a “hold” rating in a report on Wednesday, March 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ADTRAN in a report on Thursday, April 2nd. Rosenblatt Securities upped their target price on ADTRAN from $16.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. B. Riley Financial reiterated a “buy” rating on shares of ADTRAN in a report on Friday, May 1st. Finally, Wall Street Zen cut ADTRAN from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 17th.

Hedge Funds Weigh In On ADTRAN

A number of institutional investors and hedge funds have recently modified their holdings of ADTN. Quarry LP bought a new position in shares of ADTRAN during the 3rd quarter worth approximately $36,000. Kestra Advisory Services LLC bought a new position in shares of ADTRAN in the 4th quarter worth $36,000. ST Germain D J Co. Inc. lifted its holdings in shares of ADTRAN by 100.0% in the 4th 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 in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of ADTRAN in the 4th quarter worth $47,000. Finally, Freestone Grove Partners LP bought a new position in shares of ADTRAN in the 4th quarter worth $87,000. 80.56% of the stock is currently owned by institutional investors.

ADTRAN Stock Performance

ADTRAN stock opened at $17.87 on Thursday. The business has a 50 day moving average of $15.10 and a 200-day moving average of $11.26. ADTRAN has a 1 year low of $7.11 and a 1 year high of $19.98. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.77 and a quick ratio of 1.18. The company has a market capitalization of $1.45 billion, a P/E ratio of -45.82 and a beta of 1.42.

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 the consensus estimate of $0.09 by $0.05. ADTRAN had a positive return on equity of 10.94% and a negative net margin of 3.18%.The company had revenue of $286.09 million during the quarter, compared to the consensus estimate of $285.48 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The firm’s revenue was up 15.5% compared to the same quarter last year. On average, equities research analysts predict that ADTRAN will post 0.43 earnings per share for the current year.

About ADTRAN

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.