ADTRAN Holdings, Inc. (NASDAQ:ADTN) Receives Consensus Rating of “Hold” from Brokerages

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have been assigned an average recommendation of “Hold” from the seven ratings firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $14.6667.

Several brokerages have recently commented on ADTN. Craig Hallum set a $12.00 target price on ADTRAN in a report on Wednesday, August 5th. Zacks Research cut ADTRAN from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 4th. Wall Street Zen lowered shares of ADTRAN from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of ADTRAN in a research report on Tuesday, June 30th. Finally, Needham & Company LLC dropped their target price on shares of ADTRAN from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd.

Institutional Trading of ADTRAN

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Persistent Asset Partners Ltd bought a new position in ADTRAN in the 2nd quarter worth approximately $28,000. Quarry LP bought a new position in ADTRAN in the 3rd quarter valued at $36,000. Kestra Advisory Services LLC acquired a new stake in shares of ADTRAN in the 4th quarter valued at $36,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of ADTRAN in the 4th quarter valued at $47,000. Finally, Freestone Grove Partners LP acquired a new stake in shares of ADTRAN in the 4th quarter valued at $87,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Stock Down 0.7%

NASDAQ ADTN opened at $7.10 on Friday. The firm has a market cap of $578.51 million, a PE ratio of -25.36, a price-to-earnings-growth ratio of 4.38 and a beta of 1.47. ADTRAN has a one year low of $7.04 and a one year high of $19.98. The stock’s 50 day simple moving average is $9.75 and its 200 day simple moving average is $12.45. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.79 and a quick ratio of 1.19.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Tuesday, August 4th. The communications equipment provider reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $281.15 million for the quarter, compared to analyst estimates of $290.19 million. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, sell-side analysts forecast that ADTRAN will post 0.16 earnings per share for the current fiscal year.

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.