ADTRAN (NASDAQ:ADTN) Sets New 52-Week High - Should You Buy?

Key Points

• ADTRAN hit a new 52-week high of $18.14 on Friday, last trading around $18.03 with about 232,149 shares changing hands.
• Analyst coverage is mixed — four Buys, two Holds and one Sell — resulting in an average rating of Hold and a consensus price target of $17.00.
• The company beat quarterly expectations, reporting $0.16 EPS (vs. $0.08 expected) and revenue of $291.56 million, a 20% year-over-year increase.

ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report)'s share price hit a new 52-week high during trading on Friday . The stock traded as high as $18.14 and last traded at $18.0330, with a volume of 232149 shares. The stock had previously closed at $17.69.

Analyst Upgrades and Downgrades

ADTN has been the subject of a number of research analyst reports. Evercore initiated coverage on ADTRAN in a research report on Tuesday, April 14th. They set an "outperform" rating and a $18.00 price target for the company. Wall Street Zen downgraded ADTRAN from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 21st. Argus raised ADTRAN to a "hold" rating in a research report on Wednesday, March 4th. B. Riley Financial reaffirmed a "buy" rating on shares of ADTRAN in a research report on Friday. Finally, Needham & Company LLC set a $18.00 price target on ADTRAN and gave the company a "buy" rating in a research report on Thursday, April 9th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, ADTRAN presently has an average rating of "Hold" and a consensus price target of $17.00.

ADTRAN Stock Up 4.6%

The stock has a 50-day moving average of $12.93 and a 200 day moving average of $10.33. The company has a market capitalization of $1.49 billion, a PE ratio of -36.26 and a beta of 1.23. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 1.50.

ADTRAN (NASDAQ:ADTN - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The communications equipment provider reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.08. ADTRAN had a positive return on equity of 4.23% and a negative net margin of 4.15%.The business had revenue of $291.56 million during the quarter, compared to analyst estimates of $281.12 million. The firm's revenue for the quarter was up 20.0% on a year-over-year basis. Sell-side analysts anticipate that ADTRAN Holdings, Inc. will post 0.32 EPS for the current year.

Hedge Funds Weigh In On ADTRAN

Several institutional investors and hedge funds have recently bought and sold shares of ADTN. State of Alaska Department of Revenue bought a new position in ADTRAN during the third quarter valued at $36,000. Quarry LP bought a new position in ADTRAN during the third quarter valued at $36,000. Kestra Advisory Services LLC bought a new position in ADTRAN during the fourth quarter valued at $36,000. ST Germain D J Co. Inc. grew its holdings in ADTRAN by 100.0% during the fourth quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider's stock valued at $43,000 after purchasing an additional 2,500 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in ADTRAN during the fourth quarter valued at $47,000. 80.56% of the stock is 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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