ADTRAN, Inc. (NASDAQ:ADTN) has earned a consensus rating of “Hold” from the twelve brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $17.88.
Several equities research analysts have recently commented on ADTN shares. Northland Securities cut ADTRAN from an “outperform” rating to a “market perform” rating and set a $17.00 target price for the company. in a research note on Wednesday, July 18th. ValuEngine cut ADTRAN from a “hold” rating to a “sell” rating in a research note on Friday, June 1st. BidaskClub raised ADTRAN from a “sell” rating to a “hold” rating in a research note on Saturday, June 16th. Bank of America raised ADTRAN from an “underperform” rating to a “neutral” rating in a research note on Thursday. Finally, MKM Partners lifted their target price on ADTRAN from $21.00 to $22.00 in a research note on Thursday.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of ADTRAN by 8.3% in the 2nd quarter. BlackRock Inc. now owns 6,934,364 shares of the communications equipment provider’s stock valued at $102,976,000 after buying an additional 531,092 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of ADTRAN by 5.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,459,427 shares of the communications equipment provider’s stock worth $51,372,000 after purchasing an additional 182,298 shares during the period. Victory Capital Management Inc. grew its stake in shares of ADTRAN by 0.4% during the second quarter. Victory Capital Management Inc. now owns 3,064,328 shares of the communications equipment provider’s stock worth $45,505,000 after purchasing an additional 11,178 shares during the period. Deprince Race & Zollo Inc. grew its stake in shares of ADTRAN by 32.6% during the second quarter. Deprince Race & Zollo Inc. now owns 2,795,330 shares of the communications equipment provider’s stock worth $41,511,000 after purchasing an additional 686,488 shares during the period. Finally, Van Berkom & Associates Inc. grew its stake in shares of ADTRAN by 0.6% during the second quarter. Van Berkom & Associates Inc. now owns 2,081,442 shares of the communications equipment provider’s stock worth $30,909,000 after purchasing an additional 13,186 shares during the period. 95.14% of the stock is owned by institutional investors.
ADTN stock traded down $0.05 during midday trading on Friday, reaching $18.75. 231,487 shares of the company’s stock traded hands, compared to its average volume of 204,589. ADTRAN has a 1-year low of $13.95 and a 1-year high of $25.10. The stock has a market capitalization of $885.56 million, a price-to-earnings ratio of 21.07 and a beta of 0.58. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.93 and a quick ratio of 1.90.
ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Tuesday, July 17th. The communications equipment provider reported ($0.10) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.15. ADTRAN had a negative return on equity of 0.56% and a negative net margin of 2.15%. The firm had revenue of $128.05 million during the quarter, compared to analysts’ expectations of $127.80 million. During the same period last year, the firm posted $0.26 EPS. equities analysts expect that ADTRAN will post -0.44 earnings per share for the current fiscal year.
ADTRAN, Inc provides networking and communications equipment worldwide. The company operates through two segments, Network Solutions and Services & Support. It offers access and aggregation solutions, including network management and subscriber services control and orchestration software within a SD-access architecture; SDN-controlled programmable network elements; fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; fiber to the distribution point optical network units; optical line terminals; optical networking edge aggregation; and IP digital subscriber line access multiplexers.
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