ADTRAN Holdings, Inc. (NASDAQ:ADTN) Receives Consensus Rating of “Hold” from Brokerages

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have been given an average rating of “Hold” by the seven brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $18.00.

Several research firms recently weighed in on ADTN. Argus upgraded shares of ADTRAN to a “hold” rating in a report on Wednesday, March 4th. B. Riley Financial restated a “buy” rating on shares of ADTRAN in a report on Friday, May 1st. Northland Securities set a $18.00 price target on shares of ADTRAN in a report on Wednesday, May 6th. Rosenblatt Securities boosted their price target on shares of ADTRAN from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen cut shares of ADTRAN from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 17th.

ADTRAN Price Performance

Shares of NASDAQ ADTN opened at $15.18 on Monday. The stock has a market capitalization of $1.23 billion, a P/E ratio of -38.92 and a beta of 1.42. The company has a 50-day moving average price of $15.94 and a 200-day moving average price of $12.05. 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.

ADTRAN (NASDAQ:ADTN) last issued 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 during 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 business’s revenue was up 15.5% on a year-over-year basis. During the same period last year, the company earned $0.03 earnings per share. On average, equities research analysts forecast that ADTRAN will post 0.43 EPS for the current fiscal year.

Institutional Trading of ADTRAN

Several hedge funds have recently added to or reduced their stakes in ADTN. Quarry LP bought a new stake in ADTRAN in the third quarter worth about $36,000. Kestra Advisory Services LLC bought a new stake in ADTRAN in the fourth quarter worth about $36,000. ST Germain D J Co. Inc. raised its position 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 acquiring an additional 2,500 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in ADTRAN in the fourth quarter worth about $47,000. Finally, Freestone Grove Partners LP bought a new stake in ADTRAN in the fourth quarter worth about $87,000. Institutional investors own 80.56% of the company’s stock.

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.