ADTRAN’s (ADTN) Buy Rating Reiterated at Rosenblatt Securities

ADTRAN (NASDAQ:ADTN)‘s stock had its “buy” rating reissued by Rosenblatt Securities in a note issued to investors on Wednesday,Benzinga reports. They presently have a $11.00 price objective on the communications equipment provider’s stock. Rosenblatt Securities’ target price would indicate a potential upside of 39.06% from the stock’s previous close.

ADTN has been the subject of several other research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of ADTRAN in a report on Wednesday, October 8th. B. Riley began coverage on shares of ADTRAN in a report on Thursday, September 18th. They issued a “buy” rating and a $16.00 price target for the company. Finally, Wall Street Zen cut shares of ADTRAN from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.80.

ADTRAN Stock Down 24.2%

Shares of NASDAQ:ADTN opened at $7.91 on Wednesday. ADTRAN has a 52 week low of $6.02 and a 52 week high of $12.44. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.19 and a current ratio of 1.96. The company has a market capitalization of $632.63 million, a PE ratio of -6.04 and a beta of 1.41. The company has a 50 day moving average price of $9.51 and a two-hundred day moving average price of $8.87.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Friday, March 15th. The communications equipment provider reported $0.89 earnings per share for the quarter. The company had revenue of $358.27 million during the quarter. ADTRAN had a negative net margin of 11.02% and a negative return on equity of 10.09%. Analysts forecast that ADTRAN will post -0.5 earnings per share for the current year.

Institutional Trading of ADTRAN

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in ADTRAN by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,767 shares of the communications equipment provider’s stock worth $408,000 after acquiring an additional 1,946 shares in the last quarter. Cape Investment Advisory Inc. bought a new position in shares of ADTRAN in the second quarter valued at about $27,000. Police & Firemen s Retirement System of New Jersey raised its position in shares of ADTRAN by 19.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 19,531 shares of the communications equipment provider’s stock valued at $175,000 after purchasing an additional 3,217 shares during the period. SG Americas Securities LLC raised its position in shares of ADTRAN by 1.4% in the second quarter. SG Americas Securities LLC now owns 237,207 shares of the communications equipment provider’s stock valued at $2,128,000 after purchasing an additional 3,370 shares during the period. Finally, Creative Planning raised its position in shares of ADTRAN by 5.7% in the second quarter. Creative Planning now owns 63,774 shares of the communications equipment provider’s stock valued at $572,000 after purchasing an additional 3,424 shares during the period. 80.56% of the stock is owned by institutional investors.

About ADTRAN

ADTRAN Holdings, Inc, through its subsidiaries, provides networking and communications platforms, software, systems, and services in the United States, Germany, the United Kingdom, and internationally. It operates through two segments, Network Solutions, and Services & Support. It offers residential gateways; ethernet passive optical network ONUs; gigabit passive optical network/XGS-PON ONTs; traditional SSE, routers, and switches; edge cloud; carrier ethernet network interface devices; Optical Line Terminals; Packet Aggregation, Copper Access, and Oscilloquartz; optical transport and engine solutions; infrastructure monitoring solution; and training, professional, software, and managed services.