ADTRAN’s (ADTN) Buy Rating Reiterated at B. Riley Financial

B. Riley Financial reissued their buy rating on shares of ADTRAN (NASDAQ:ADTN) in a report published on Thursday,Benzinga reports. B. Riley Financial currently has a $21.00 target price on the communications equipment provider’s stock, down from their previous target price of $23.00.

A number of other analysts also recently issued reports on the company. Northland Securities set a $18.00 price target on ADTRAN in a research report on Wednesday, May 6th. Rosenblatt Securities restated a “buy” rating and issued a $20.00 target price on shares of ADTRAN in a report on Thursday. Needham & Company LLC cut their price target on shares of ADTRAN from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday. Wall Street Zen upgraded shares of ADTRAN from a “buy” rating to a “strong-buy” rating in a report on Monday, July 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ADTRAN in a research report on Tuesday, June 30th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.20.

ADTRAN Trading Down 3.0%

Shares of NASDAQ ADTN opened at $9.85 on Thursday. The business’s 50 day moving average is $14.30 and its two-hundred day moving average is $12.74. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.77 and a quick ratio of 1.18. ADTRAN has a 1-year low of $7.11 and a 1-year high of $19.98. The stock has a market capitalization of $802.28 million, a P/E ratio of -25.26 and a beta of 1.44.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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 positive return on equity of 10.94% and a negative net margin of 3.18%.The company’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period last year, the company earned $0.03 EPS. As a group, research analysts expect that ADTRAN will post 0.38 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its stake in ADTRAN by 371.2% in the 4th quarter. Millennium Management LLC now owns 2,694,800 shares of the communications equipment provider’s stock worth $23,418,000 after acquiring an additional 2,122,844 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of ADTRAN during the third quarter valued at approximately $10,168,000. Paradigm Capital Management Inc. NY raised its stake in shares of ADTRAN by 527.7% during the fourth 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 acquiring an additional 949,909 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in shares of ADTRAN by 5,809.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 786,823 shares of the communications equipment provider’s stock valued at $7,380,000 after purchasing an additional 773,509 shares during the period. Finally, Heartland Advisors Inc. purchased a new stake in shares of ADTRAN in the first quarter valued at approximately $9,435,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

ADTRAN News Summary

Here are the key news stories impacting ADTRAN this week:

• Positive Sentiment: ADTRAN announced a new senior secured credit facility led by JPMorgan Chase, which should improve liquidity, lower borrowing costs, and give the company more financial flexibility. ADTRAN Strengthens Capital Structure with New Senior Secured Credit Facility
• Positive Sentiment: B. Riley and Rosenblatt both reiterated buy ratings on ADTRAN, signaling that some analysts still see substantial upside from current levels, even though B. Riley trimmed its price target.
• Neutral Sentiment: Needham lowered its price target on ADTRAN but kept a buy rating, which suggests valuation expectations have become more cautious while the longer-term outlook remains constructive.
• Negative Sentiment: A PR Newswire notice says Levi & Korsinsky is investigating whether ADTRAN adequately disclosed risks tied to customer project timing and the impact on revenue and operating results, adding a legal overhang. ADTRAN Holdings Investigation Notice
• Negative Sentiment: Investor concern may also be amplified by reports that the company’s latest preliminary results missed guidance, reinforcing worries about near-term execution and demand visibility.

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.