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

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has earned an average recommendation of “Hold” from the seven analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $18.00.

ADTN has been the topic of a number of recent research reports. Needham & Company LLC restated a “buy” rating and issued a $18.00 target price on shares of ADTRAN in a report on Wednesday, May 6th. Wall Street Zen lowered ADTRAN from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 17th. Northland Securities set a $18.00 target price on ADTRAN in a report on Wednesday, May 6th. Rosenblatt Securities raised their target price on ADTRAN from $16.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, B. Riley Financial reiterated a “buy” rating on shares of ADTRAN in a report on Friday, May 1st.

ADTRAN Stock Up 17.6%

ADTN stock opened at $19.40 on Thursday. ADTRAN has a twelve month low of $7.11 and a twelve month high of $19.98. The company has a quick ratio of 1.18, a current ratio of 1.77 and a debt-to-equity ratio of 1.59. The stock’s 50 day moving average is $14.76 and its 200-day moving average is $11.07. The firm has a market capitalization of $1.57 billion, a PE ratio of -49.74 and a beta of 1.45.

ADTRAN (NASDAQ:ADTN) last posted its earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. ADTRAN had a positive return on equity of 10.94% and a negative net margin of 3.18%.The company had revenue of $286.09 million for the quarter, compared to analyst estimates of $285.48 million. During the same quarter last year, the company earned $0.03 earnings per share. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. Sell-side analysts expect that ADTRAN will post 0.39 EPS for the current fiscal year.

Institutional Trading of ADTRAN

Hedge funds have recently bought and sold shares of the business. Quarry LP bought a new stake in ADTRAN during the third quarter worth $36,000. Kestra Advisory Services LLC bought a new stake in ADTRAN during the fourth quarter worth $36,000. ST Germain D J Co. Inc. lifted its holdings 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 acquiring an additional 2,500 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in ADTRAN during the fourth quarter worth $47,000. Finally, Freestone Grove Partners LP bought a new stake in ADTRAN during the fourth quarter worth $87,000. 80.56% of the stock is currently owned by institutional investors.

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.