ADTRAN (NASDAQ:ADTN) Coverage Initiated at Evercore

Key Points

• Evercore initiated coverage on ADTRAN with an "outperform" rating and an $18.00 price target, implying about a 20.24% upside from the prior close.
• Analyst views are mixed—four Buys, two Holds and one Sell—leaving a consensus rating of "Hold" and an average price target of $17.00.
• ADTRAN beat estimates in the latest quarter (EPS $0.16 vs. $0.08 and revenue $291.6M vs. $281.1M, revenue up 20% year‑over‑year) but remains unprofitable with a negative net margin (−4.15%) and a negative PE.

Investment analysts at Evercore started coverage on shares of ADTRAN (NASDAQ:ADTN - Get Free Report) in a research note issued on Tuesday. The brokerage set an "outperform" rating and a $18.00 price target on the communications equipment provider's stock. Evercore's target price indicates a potential upside of 20.24% from the stock's previous close.

A number of other research firms also recently issued reports on ADTN. Argus raised shares of ADTRAN to a "hold" rating in a research note on Wednesday, March 4th. Weiss Ratings reissued a "sell (d-)" rating on shares of ADTRAN in a research note on Thursday, April 2nd. Needham & Company LLC set a $18.00 price target on shares of ADTRAN and gave the company a "buy" rating in a research note on Thursday. Wall Street Zen downgraded shares of ADTRAN from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 21st. Finally, Rosenblatt Securities boosted their price target on shares of ADTRAN from $11.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, February 27th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $17.00.

ADTRAN Price Performance

Shares of ADTN stock opened at $14.97 on Tuesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.76 and a quick ratio of 1.16. The firm's 50-day moving average is $11.17 and its two-hundred day moving average is $9.65. ADTRAN has a 12 month low of $7.06 and a 12 month high of $15.25. The company has a market capitalization of $1.21 billion, a PE ratio of -29.35 and a beta of 1.23.

ADTRAN (NASDAQ:ADTN - Get Free Report) last issued its earnings results on Thursday, February 26th. The communications equipment provider reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.08. The company had revenue of $291.56 million for the quarter, compared to the consensus estimate of $281.12 million. ADTRAN had a negative net margin of 4.15% and a positive return on equity of 4.23%. The firm's revenue for the quarter was up 20.0% compared to the same quarter last year. Analysts predict that ADTRAN will post -0.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in ADTRAN by 1.6% during the 4th quarter. Franklin Resources Inc. now owns 79,692 shares of the communications equipment provider's stock worth $693,000 after acquiring an additional 1,263 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in ADTRAN by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,767 shares of the communications equipment provider's stock worth $408,000 after acquiring an additional 1,946 shares in the last quarter. Occudo Quantitative Strategies LP grew its holdings in ADTRAN by 3.2% during the 3rd quarter. Occudo Quantitative Strategies LP now owns 65,702 shares of the communications equipment provider's stock worth $616,000 after acquiring an additional 2,016 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in ADTRAN by 1.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 187,814 shares of the communications equipment provider's stock worth $1,632,000 after acquiring an additional 2,068 shares in the last quarter. Finally, ST Germain D J Co. Inc. grew its holdings 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 acquiring an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company's stock.

ADTRAN Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.