ADTRAN (NASDAQ:ADTN) Reaches New 12-Month High - What's Next?

Key Points

• ADTRAN hit a new 52-week high of $17.17 (last at $17.11) on Monday with ~356,928 shares traded, valuing the company at about $1.43 billion.
• Analyst sentiment is mixed—four Buy, two Hold and one Sell—giving a MarketBeat consensus of "Hold" and an average target of $17.00, though several firms have set $18 targets and issued recent upgrades.
• The company beat the latest quarter (EPS $0.16 vs. $0.08; revenue $291.6M vs. $281.1M) with revenue up 20% year-over-year, but ADTRAN still posts a negative net margin and sell-side forecasts show -0.5 EPS for the current year.

ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) hit a new 52-week high on Monday . The company traded as high as $17.17 and last traded at $17.11, with a volume of 356928 shares traded. The stock had previously closed at $16.96.

Wall Street Analysts Forecast Growth

ADTN has been the topic of a number of recent analyst reports. Argus raised ADTRAN to a "hold" rating in a research report on Wednesday, March 4th. Rosenblatt Securities boosted their price target on ADTRAN from $11.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, February 27th. Needham & Company LLC set a $18.00 price target on ADTRAN and gave the stock a "buy" rating in a research report on Thursday, April 9th. Evercore initiated coverage on ADTRAN in a research report on Tuesday, April 14th. They set an "outperform" rating and a $18.00 price target on the stock. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of ADTRAN in a research report on Thursday, April 2nd. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, ADTRAN has a consensus rating of "Hold" and an average target price of $17.00.

ADTRAN Stock Up 4.2%

The firm has a 50-day moving average price of $11.69 and a 200 day moving average price of $9.84. 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 company has a market cap of $1.43 billion, a price-to-earnings ratio of -34.59 and a beta of 1.23.

ADTRAN (NASDAQ:ADTN - Get Free Report) last posted its earnings results on Thursday, February 26th. The communications equipment provider reported $0.16 EPS for the quarter, beating the consensus estimate 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 positive return on equity of 4.23% and a negative net margin of 4.15%.The company's revenue was up 20.0% compared to the same quarter last year. Sell-side analysts predict that ADTRAN Holdings, Inc. will post -0.5 EPS for the current year.

Institutional Trading of ADTRAN

A number of institutional investors have recently modified their holdings of ADTN. AQR Capital Management LLC increased its position in shares of ADTRAN by 253.7% in the first quarter. AQR Capital Management LLC now owns 348,478 shares of the communications equipment provider's stock worth $3,039,000 after purchasing an additional 249,954 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in ADTRAN by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,767 shares of the communications equipment provider's stock worth $408,000 after purchasing an additional 1,946 shares during the period. Legal & General Group Plc lifted its position in ADTRAN by 13.9% during the second quarter. Legal & General Group Plc now owns 113,480 shares of the communications equipment provider's stock worth $1,018,000 after purchasing an additional 13,821 shares during the period. American Century Companies Inc. grew its stake in ADTRAN by 11.2% during the second quarter. American Century Companies Inc. now owns 224,015 shares of the communications equipment provider's stock worth $2,009,000 after buying an additional 22,524 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in ADTRAN by 17.6% during the second quarter. Russell Investments Group Ltd. now owns 88,384 shares of the communications equipment provider's stock worth $793,000 after buying an additional 13,222 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors.

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.

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