ADTRAN (NASDAQ:ADTN) Raised to "Buy" at Wall Street Zen

ADTRAN (NASDAQ:ADTN - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Sunday.

A number of other research firms have also recently weighed in on ADTN. Needham & Company LLC dropped their price target on ADTRAN from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Wolfe Research began coverage on ADTRAN in a research report on Monday, July 7th. They set a "peer perform" rating on the stock. Finally, Rosenblatt Securities lowered their price objective on ADTRAN from $15.00 to $11.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, ADTRAN currently has an average rating of "Moderate Buy" and a consensus price target of $12.00.

ADTRAN Stock Performance

Shares of NASDAQ:ADTN opened at $9.41 on Friday. The stock has a market capitalization of $752.61 million, a P/E ratio of -5.54 and a beta of 1.32. ADTRAN has a 1-year low of $4.62 and a 1-year high of $12.44. The company has a current ratio of 2.02, a quick ratio of 1.18 and a debt-to-equity ratio of 1.37. The business has a 50-day moving average price of $8.50 and a two-hundred day moving average price of $9.03.

ADTRAN (NASDAQ:ADTN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The communications equipment provider reported $0.03 EPS for the quarter, beating analysts' consensus estimates of ($0.02) by $0.05. ADTRAN had a negative return on equity of 20.07% and a negative net margin of 14.58%. During the same period in the previous year, the firm posted $0.02 earnings per share. The company's revenue for the quarter was up 9.5% on a year-over-year basis. Equities analysts predict that ADTRAN will post -0.5 earnings per share for the current year.

Institutional Trading of ADTRAN

A number of large investors have recently bought and sold shares of ADTN. Schonfeld Strategic Advisors LLC bought a new stake in ADTRAN during the fourth quarter worth $12,921,000. Royce & Associates LP lifted its position in shares of ADTRAN by 188.5% during the 1st quarter. Royce & Associates LP now owns 1,406,500 shares of the communications equipment provider's stock valued at $12,265,000 after buying an additional 919,000 shares during the last quarter. Invesco Ltd. lifted its position in shares of 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 buying an additional 905,056 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in ADTRAN by 591.5% during the 4th quarter. JPMorgan Chase & Co. now owns 863,807 shares of the communications equipment provider's stock worth $7,196,000 after purchasing an additional 738,893 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in ADTRAN during the 4th quarter worth about $6,095,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

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.

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