ADTRAN (NASDAQ:ADTN) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Wednesday.
Several other research firms have also issued reports on ADTN. Zacks Investment Research raised ADTRAN from a “sell” rating to a “hold” rating in a research note on Tuesday, March 20th. Argus lowered ADTRAN from a “buy” rating to a “hold” rating in a research note on Thursday, April 19th. Northland Securities reaffirmed a “buy” rating and issued a $23.00 price objective on shares of ADTRAN in a research note on Thursday, January 18th. Jefferies Group reaffirmed a “hold” rating and issued a $17.25 price objective on shares of ADTRAN in a research note on Thursday, January 18th. Finally, ValuEngine raised ADTRAN from a “sell” rating to a “hold” rating in a research note on Thursday, April 26th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. ADTRAN has a consensus rating of “Hold” and an average price target of $20.32.
NASDAQ:ADTN opened at $14.75 on Wednesday. The company has a market capitalization of $704.34 million, a PE ratio of 43.24 and a beta of 0.61. ADTRAN has a 1 year low of $14.55 and a 1 year high of $14.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.36 and a quick ratio of 2.19.
ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Tuesday, April 17th. The communications equipment provider reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.15). The company had revenue of $120.81 million during the quarter, compared to the consensus estimate of $126.20 million. ADTRAN had a net margin of 1.30% and a return on equity of 3.33%. During the same period in the previous year, the business earned $0.14 earnings per share. research analysts expect that ADTRAN will post -0.31 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of ADTN. Wells Fargo & Company MN lifted its stake in shares of ADTRAN by 55.4% during the 3rd quarter. Wells Fargo & Company MN now owns 57,373 shares of the communications equipment provider’s stock worth $1,377,000 after acquiring an additional 20,443 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of ADTRAN by 2.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 442,932 shares of the communications equipment provider’s stock worth $8,571,000 after acquiring an additional 11,252 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of ADTRAN during the 4th quarter worth approximately $2,390,000. Algert Global LLC lifted its stake in shares of ADTRAN by 7.5% during the 4th quarter. Algert Global LLC now owns 141,143 shares of the communications equipment provider’s stock worth $2,731,000 after acquiring an additional 9,812 shares during the last quarter. Finally, Alambic Investment Management L.P. bought a new stake in shares of ADTRAN during the 4th quarter worth approximately $439,000. 96.90% of the stock is owned by hedge funds and other institutional investors.
ADTRAN Company Profile
ADTRAN, Inc provides networking and communications equipment worldwide. The company operates through two segments, Network Solutions and Services & Support. It offers access and aggregation solutions, including network management and subscriber services control and orchestration software within a SD-access architecture; SDN-controlled programmable network elements; fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; fiber to the distribution point optical network units; optical line terminals; optical networking edge aggregation; and IP digital subscriber line access multiplexers.
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