ADTRAN Holdings, Inc. (NASDAQ:ADTN) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts hold a consensus “Hold” rating on ADTRAN, with two sell, one hold, and four buy recommendations. The average 12-month price target is $14.67, though several firms recently reduced their targets.
• ADTRAN shares opened at $7.63, near their one-year low of $7.11 and well below the one-year high of $19.98. The company’s latest quarterly results also fell short of expectations, with EPS of $0.04 versus the $0.10 consensus and revenue of $281.15 million versus $290.19 million expected.
• Institutional investors and hedge funds own approximately 80.56% of ADTRAN’s stock, while the company reported 6% year-over-year quarterly revenue growth despite a negative net margin.

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) have earned a consensus recommendation of "Hold" from the seven research firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $14.6667.

A number of brokerages have recently weighed in on ADTN. Wall Street Zen lowered ADTRAN from a "buy" rating to a "hold" rating in a report on Saturday. B. Riley Financial reaffirmed a "buy" rating and set a $21.00 target price (down from $23.00) on shares of ADTRAN in a report on Thursday, July 23rd. Rosenblatt Securities dropped their target price on ADTRAN from $20.00 to $15.00 and set a "buy" rating on the stock in a research report on Wednesday, August 5th. Needham & Company LLC cut their price target on shares of ADTRAN from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, July 23rd. Finally, Craig Hallum set a $12.00 price target on shares of ADTRAN in a research report on Wednesday, August 5th.

ADTRAN Price Performance

Shares of ADTN opened at $7.63 on Tuesday. The firm has a market capitalization of $621.69 million, a PE ratio of -27.25 and a beta of 1.47. 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 has a 1-year low of $7.11 and a 1-year high of $19.98. The company's fifty day moving average price is $12.59 and its 200-day moving average price is $12.72.

ADTRAN (NASDAQ:ADTN - Get Free Report) last issued its earnings results on Tuesday, August 4th. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.06). ADTRAN had a positive return on equity of 14.24% and a negative net margin of 2.29%.The firm had revenue of $281.15 million during the quarter, compared to analysts' expectations of $290.19 million. The business's revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities research analysts predict that ADTRAN will post 0.23 EPS for the current year.

Institutional Trading of ADTRAN

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Persistent Asset Partners Ltd acquired a new position in ADTRAN during the second quarter valued at $28,000. Quarry LP purchased a new stake in ADTRAN in the third quarter valued at $36,000. Kestra Advisory Services LLC acquired a new stake in ADTRAN during the 4th quarter worth about $36,000. ST Germain D J Co. Inc. grew its position in ADTRAN by 100.0% during the 4th quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider's stock worth $43,000 after purchasing an additional 2,500 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of ADTRAN during the 4th quarter valued at about $47,000. Institutional investors and hedge funds own 80.56% of the company's stock.

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.

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