StockNews.com Upgrades ADTRAN (NASDAQ:ADTN) to “Hold”

by · The Markets Daily

ADTRAN (NASDAQ:ADTN – Get Free Report) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

Other equities research analysts have also recently issued reports about the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 price objective on shares of ADTRAN in a research note on Thursday, August 8th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $6.00 price objective on shares of ADTRAN in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $7.17.

Get Our Latest Report on ADTRAN

ADTRAN Stock Performance

Shares of ADTRAN stock opened at $5.85 on Wednesday. ADTRAN has a one year low of $4.34 and a one year high of $8.12. The company has a market cap of $462.83 million, a price-to-earnings ratio of -0.84 and a beta of 1.19. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.31 and a current ratio of 2.31. The business’s 50 day moving average price is $5.54 and its 200 day moving average price is $5.34.

ADTRAN (NASDAQ:ADTN – Get Free Report) last announced its quarterly earnings data on Monday, August 5th. The communications equipment provider reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.14). ADTRAN had a negative return on equity of 29.26% and a negative net margin of 58.64%. The company had revenue of $225.99 million for the quarter, compared to analysts’ expectations of $225.95 million. On average, research analysts predict that ADTRAN will post -0.41 EPS for the current year.

Institutional Trading of ADTRAN

A number of institutional investors have recently bought and sold shares of the business. Divisar Capital Management LLC lifted its holdings in ADTRAN by 25.0% during the 2nd quarter. Divisar Capital Management LLC now owns 5,740,461 shares of the communications equipment provider’s stock worth $30,195,000 after buying an additional 1,146,774 shares during the last quarter. DNB Asset Management AS lifted its holdings in ADTRAN by 33.4% during the 2nd quarter. DNB Asset Management AS now owns 4,631,848 shares of the communications equipment provider’s stock worth $24,364,000 after buying an additional 1,159,809 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in ADTRAN by 22.5% during the 1st quarter. William Blair Investment Management LLC now owns 4,456,067 shares of the communications equipment provider’s stock worth $24,241,000 after buying an additional 817,762 shares during the last quarter. Paradigm Capital Management Inc. NY lifted its holdings in shares of ADTRAN by 173.1% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,447,100 shares of the communications equipment provider’s stock valued at $12,872,000 after purchasing an additional 1,551,000 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of ADTRAN by 8,824.3% in the 2nd quarter. Millennium Management LLC now owns 1,549,621 shares of the communications equipment provider’s stock valued at $8,151,000 after purchasing an additional 1,532,257 shares during the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

About ADTRAN

(Get Free Report)

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.

Read More