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

Key Points

• ADTRAN has been upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating, indicating increased confidence in the stock's potential.
• Institutional investors now own 80.56% of ADTRAN's stock, with significant increases in holdings reported by various firms in recent quarters.
• The company's earnings report showed a 9.5% year-over-year revenue increase, with earnings per share beating analysts' expectations by $0.05.

ADTRAN (NASDAQ:ADTN - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Saturday.

ADTN has been the topic of a number of other reports. Needham & Company LLC lowered their price objective on ADTRAN from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Wolfe Research started coverage on ADTRAN in a research report on Monday, July 7th. They issued a "peer perform" rating on the stock. Finally, Rosenblatt Securities lowered their price target 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 equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, ADTRAN has a consensus rating of "Buy" and a consensus target price of $12.00.

ADTRAN Stock Performance

ADTN stock opened at $8.76 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.18 and a current ratio of 2.02. The stock has a market capitalization of $700.61 million, a price-to-earnings ratio of -5.15 and a beta of 1.32. ADTRAN has a 1 year low of $4.62 and a 1 year high of $12.44. The stock's fifty day moving average is $8.74 and its two-hundred day moving average is $9.00.

ADTRAN (NASDAQ:ADTN - Get Free Report) last posted its earnings results on Wednesday, May 7th. The communications equipment provider reported $0.03 earnings per share (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%. ADTRAN's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.02 EPS. On average, research analysts predict that ADTRAN will post -0.5 EPS for the current year.

Institutional Trading of ADTRAN

Large investors have recently made changes to their positions in the business. Aquatic Capital Management LLC grew its holdings in shares of ADTRAN by 1,572.5% during the fourth quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider's stock worth $56,000 after purchasing an additional 6,290 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of ADTRAN during the first quarter worth $65,000. New York State Teachers Retirement System bought a new stake in shares of ADTRAN during the second quarter worth $65,000. Park Avenue Securities LLC bought a new stake in shares of ADTRAN during the second quarter worth $91,000. Finally, Ballentine Partners LLC bought a new stake in shares of ADTRAN during the first quarter worth $94,000. Institutional investors own 80.56% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.