ADTRAN Holdings, Inc. (NASDAQ:ADTN) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $18.00.

Several brokerages recently issued reports on ADTN. Northland Securities set a $18.00 price target on ADTRAN in a research note on Wednesday, May 6th. Evercore began coverage on ADTRAN in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 price objective for the company. Wall Street Zen cut ADTRAN from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 12th. Rosenblatt Securities upped their target price on ADTRAN from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of ADTRAN in a research report on Friday, May 1st.

Hedge Funds Weigh In On ADTRAN

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new stake in shares of ADTRAN during the 3rd quarter valued at about $36,000. Kestra Advisory Services LLC bought a new position in ADTRAN during the fourth quarter worth about $36,000. ST Germain D J Co. Inc. lifted its stake 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 worth $43,000 after purchasing an additional 2,500 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in ADTRAN during the fourth quarter valued at approximately $47,000. Finally, Freestone Grove Partners LP bought a new stake in shares of ADTRAN in the 4th quarter valued at approximately $87,000. 80.56% of the stock is owned by institutional investors.

ADTRAN Stock Performance

NASDAQ ADTN opened at $11.71 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.77 and a quick ratio of 1.18. The firm has a market capitalization of $948.51 million, a price-to-earnings ratio of -30.03 and a beta of 1.44. The company’s fifty day moving average is $14.81 and its two-hundred day moving average is $12.67. ADTRAN has a 52-week low of $7.11 and a 52-week high of $19.98.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data 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 business had revenue of $286.09 million during the quarter, compared to analyst estimates of $285.48 million. ADTRAN had a negative net margin of 3.18% and a positive return on equity of 10.94%. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.03 earnings per share. Equities research analysts forecast that ADTRAN will post 0.43 EPS for the current year.

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.