ADTRAN (NASDAQ:ADTN) Upgraded to “Strong-Buy” at Wall Street Zen

ADTRAN (NASDAQ:ADTN) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Monday.

ADTN has been the subject of a number of other research reports. Northland Securities set a $18.00 price target on ADTRAN in a research report on Wednesday, May 6th. B. Riley Financial reissued a “buy” rating on shares of ADTRAN in a report on Friday, May 1st. Rosenblatt Securities lifted their price objective on shares of ADTRAN from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price objective on shares of ADTRAN in a report on Wednesday, May 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ADTRAN in a research report on Tuesday, June 30th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $18.00.

ADTRAN Stock Performance

ADTN opened at $11.65 on Monday. 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 business’s 50 day moving average is $14.75 and its 200-day moving average is $12.70. The stock has a market cap of $943.65 million, a PE ratio of -29.87 and a beta of 1.44. ADTRAN has a twelve month low of $7.11 and a twelve month high of $19.98.

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, topping analysts’ consensus estimates 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 business had revenue of $286.09 million during the quarter, compared to analyst estimates of $285.48 million. During the same period in the prior year, the company posted $0.03 EPS. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, analysts predict that ADTRAN will post 0.43 earnings per share for the current year.

Institutional Investors Weigh In On ADTRAN

A number of institutional investors have recently added to or reduced their stakes in ADTN. Quarry LP bought a new stake in ADTRAN in the third quarter worth $36,000. Kestra Advisory Services LLC bought a new position in ADTRAN during the fourth quarter valued at about $36,000. ST Germain D J Co. Inc. raised its holdings in ADTRAN by 100.0% during 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 buying an additional 2,500 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of ADTRAN in the fourth quarter worth about $47,000. Finally, Freestone Grove Partners LP acquired a new stake in shares of ADTRAN in the fourth quarter worth about $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.