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

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $18.00.

Several research analysts have recently commented on the company. Rosenblatt Securities raised their price target on ADTRAN from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Needham & Company LLC reissued a “buy” rating and set a $18.00 target price on shares of ADTRAN in a research note on Wednesday, May 6th. B. Riley Financial restated a “buy” rating on shares of ADTRAN in a report on Friday, May 1st. Evercore initiated coverage on ADTRAN in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ADTRAN in a research note on Tuesday, June 30th.

Institutional Investors Weigh In On ADTRAN

A number of hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC grew its stake in ADTRAN by 371.2% during the 4th quarter. Millennium Management LLC now owns 2,694,800 shares of the communications equipment provider’s stock worth $23,418,000 after purchasing an additional 2,122,844 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in ADTRAN in the 3rd quarter valued at about $10,168,000. Paradigm Capital Management Inc. NY boosted its stake in shares of ADTRAN by 527.7% in the 4th quarter. Paradigm Capital Management Inc. NY now owns 1,129,909 shares of the communications equipment provider’s stock valued at $9,819,000 after buying an additional 949,909 shares during the period. Schonfeld Strategic Advisors LLC boosted its stake in shares of ADTRAN by 5,809.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 786,823 shares of the communications equipment provider’s stock valued at $7,380,000 after buying an additional 773,509 shares during the period. Finally, Heartland Advisors Inc. acquired a new position in shares of ADTRAN during the first quarter worth about $9,435,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

ADTRAN Stock Up 4.7%

Shares of NASDAQ:ADTN opened at $12.14 on Friday. The company has a market capitalization of $988.80 million, a price-to-earnings ratio of -31.13 and a beta of 1.44. ADTRAN has a 12-month low of $7.11 and a 12-month high of $19.98. The business has a 50-day moving average price of $14.61 and a 200 day moving average price of $12.74. The company has a current ratio of 1.77, a quick ratio of 1.18 and a debt-to-equity ratio of 1.59.

ADTRAN (NASDAQ:ADTN) last posted its earnings results 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. The company 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%. ADTRAN’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 earnings per share. Sell-side analysts expect that ADTRAN will post 0.43 EPS for the current year.

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.