ADTRAN’s (ADTN) “Buy” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of ADTRAN (NASDAQ:ADTN) in a report issued on Friday morning,Benzinga reports. The firm currently has a $15.00 target price on the communications equipment provider’s stock.

Several other research analysts have also recently issued reports on ADTN. Craig Hallum started coverage on ADTRAN in a research note on Wednesday, January 8th. They issued a “buy” rating and a $15.00 price objective on the stock. Northland Securities increased their price objective on ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, Needham & Company LLC increased their price objective on ADTRAN from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, ADTRAN has a consensus rating of “Buy” and a consensus price target of $13.50.

ADTRAN Stock Performance

Shares of NASDAQ ADTN opened at $10.57 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10. The business’s 50 day moving average price is $10.17 and its 200-day moving average price is $7.84. ADTRAN has a fifty-two week low of $4.34 and a fifty-two week high of $12.44. The company has a market cap of $838.26 million, a price-to-earnings ratio of -1.62 and a beta of 1.29.

Institutional Trading of ADTRAN

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. boosted its position in ADTRAN by 798.7% during the 3rd quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider’s stock valued at $28,000 after acquiring an additional 4,177 shares in the last quarter. Aquatic Capital Management LLC boosted its position in shares of ADTRAN by 1,572.5% in the 4th quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider’s stock worth $56,000 after purchasing an additional 6,290 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of ADTRAN in the 3rd quarter worth $92,000. SIH Partners LLLP acquired a new stake in shares of ADTRAN in the 4th quarter worth $107,000. Finally, Harbor Capital Advisors Inc. boosted its position in shares of ADTRAN by 94.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 18,906 shares of the communications equipment provider’s stock worth $112,000 after purchasing an additional 9,202 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

ADTRAN Company Profile

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.