ADTRAN (NASDAQ:ADTN) Rating Lowered to Hold at Wall Street Zen

ADTRAN (NASDAQ:ADTN) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Other equities analysts have also recently issued reports about the company. Evercore set a $11.00 target price on ADTRAN in a report on Wednesday. Needham & Company LLC decreased their price target on ADTRAN from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. B. Riley Financial reissued a “buy” rating and issued a $21.00 price target (down from $23.00) on shares of ADTRAN in a research note on Thursday, July 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ADTRAN in a research note on Tuesday, June 30th. Finally, Rosenblatt Securities dropped their target price on shares of ADTRAN from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ADTRAN has a consensus rating of “Hold” and an average price target of $14.67.

ADTRAN Stock Performance

Shares of NASDAQ:ADTN opened at $7.56 on Friday. The stock has a market capitalization of $615.99 million, a price-to-earnings ratio of -27.00 and a beta of 1.47. ADTRAN has a 1-year low of $7.11 and a 1-year high of $19.98. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.19 and a current ratio of 1.79. The company has a 50 day moving average price of $12.79 and a 200 day moving average price of $12.73.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings results on Monday, August 3rd. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.06). ADTRAN had a negative net margin of 2.29% and a positive return on equity of 14.24%. The company had revenue of $281.15 million during the quarter, compared to the consensus estimate of $290.19 million. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, research analysts anticipate that ADTRAN will post 0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On ADTRAN

Large investors have recently made changes to their positions in the business. AQR Capital Management LLC boosted its position in ADTRAN by 253.7% during the first quarter. AQR Capital Management LLC now owns 348,478 shares of the communications equipment provider’s stock valued at $3,039,000 after purchasing an additional 249,954 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of ADTRAN by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,767 shares of the communications equipment provider’s stock worth $408,000 after purchasing an additional 1,946 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of ADTRAN by 13.9% during the 2nd quarter. Legal & General Group Plc now owns 113,480 shares of the communications equipment provider’s stock valued at $1,018,000 after buying an additional 13,821 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of ADTRAN by 11.2% during the 2nd quarter. American Century Companies Inc. now owns 224,015 shares of the communications equipment provider’s stock valued at $2,009,000 after buying an additional 22,524 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of ADTRAN by 17.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 88,384 shares of the communications equipment provider’s stock valued at $793,000 after buying an additional 13,222 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

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.