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

Key Points

• ADTRAN Holdings, Inc. has received an average analyst rating of "Moderate Buy", with one analyst rating it as a hold and four as buy, setting a 12-month price target of $12.00.
• In its latest earnings report, ADTRAN posted a loss of ($0.26) earnings per share, missing the consensus estimate, while its revenue increased by 17.3% year-over-year, reaching $265.07 million.
• Hedge funds have shown significant interest in ADTRAN, with notable stake increases, such as GAMMA Investing boosting its position by 762.1% in the first quarter.

ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the five research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $12.00.

A number of brokerages have issued reports on ADTN. Needham & Company LLC cut their target price on ADTRAN from $14.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Wolfe Research began coverage on ADTRAN in a research note on Monday, July 7th. They issued a "peer perform" rating for the company. Finally, Wall Street Zen downgraded ADTRAN from a "buy" rating to a "hold" rating in a research note on Saturday.

Hedge Funds Weigh In On ADTRAN

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in shares of ADTRAN by 762.1% during the 1st quarter. GAMMA Investing LLC now owns 27,355 shares of the communications equipment provider's stock worth $239,000 after purchasing an additional 24,182 shares during the period. Lisanti Capital Growth LLC purchased a new position in shares of ADTRAN during the 1st quarter worth $1,880,000. Invesco Ltd. boosted its holdings in ADTRAN by 325.4% during the 1st quarter. Invesco Ltd. now owns 1,183,180 shares of the communications equipment provider's stock valued at $10,317,000 after acquiring an additional 905,056 shares during the period. Swiss National Bank purchased a new position in ADTRAN during the 1st quarter valued at about $1,273,000. Finally, BNP Paribas Financial Markets purchased a new position in ADTRAN during the 4th quarter valued at about $399,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

ADTRAN Trading Down 0.7%

Shares of ADTN traded down $0.07 during midday trading on Tuesday, reaching $9.38. The company had a trading volume of 1,258,750 shares, compared to its average volume of 988,192. ADTRAN has a 1-year low of $4.93 and a 1-year high of $12.44. The stock has a market cap of $750.21 million, a PE ratio of -7.16 and a beta of 1.39. The firm has a 50 day simple moving average of $9.11 and a 200-day simple moving average of $8.76. The company has a quick ratio of 1.19, a current ratio of 1.96 and a debt-to-equity ratio of 1.12.

ADTRAN (NASDAQ:ADTN - Get Free Report) last issued its earnings results on Monday, August 4th. The communications equipment provider reported ($0.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.01 by ($0.27). ADTRAN had a negative return on equity of 10.09% and a negative net margin of 11.02%.The company had revenue of $265.07 million during the quarter, compared to analyst estimates of $255.57 million. During the same period last year, the business earned ($0.24) earnings per share. The firm's revenue was up 17.3% compared to the same quarter last year. Research analysts forecast that ADTRAN will post -0.5 EPS for the current fiscal year.

About ADTRAN

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.