ADTRAN (NASDAQ:ADTN) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded ADTRAN from a “buy” to a “strong-buy” rating, adding to a generally positive analyst tone around the stock.
• Other firms have also been constructive: Rosenblatt raised its price target to $20, Needham reaffirmed a $18 target, and MarketBeat says ADTRAN now has a consensus rating of “Moderate Buy” with an average target price of $18.00.
• ADTRAN recently beat quarterly expectations, reporting $0.14 EPS versus the $0.09 estimate and revenue of $286.09 million, while shares opened Monday at $11.65—well below the stock’s 52-week high of $19.98.

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

ADTN has been the topic of several other reports. Rosenblatt Securities lifted their price objective on ADTRAN from $16.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Needham & Company LLC reissued a "buy" rating and set a $18.00 target price on shares of ADTRAN in a research report on Wednesday, May 6th. Weiss Ratings restated a "sell (d-)" rating on shares of ADTRAN in a report on Tuesday, June 30th. Northland Securities set a $18.00 price target on shares of ADTRAN in a research report on Wednesday, May 6th. Finally, B. Riley Financial reissued a "buy" rating on shares of ADTRAN in a research report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, ADTRAN presently has a consensus rating of "Moderate Buy" and an average target price of $18.00.

ADTRAN Stock Performance

Shares of ADTN stock opened at $11.65 on Monday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.18 and a current ratio of 1.77. The firm has a market capitalization of $943.65 million, a price-to-earnings ratio of -29.87 and a beta of 1.44. ADTRAN has a one year low of $7.11 and a one year high of $19.98. The company has a 50 day moving average price of $14.75 and a 200 day moving average price of $12.70.

ADTRAN (NASDAQ:ADTN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. The company had revenue of $286.09 million during the quarter, compared to analysts' expectations of $285.48 million. ADTRAN had a negative net margin of 3.18% and a positive return on equity of 10.94%. The business's quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 EPS. Sell-side analysts anticipate that ADTRAN will post 0.43 EPS for the current year.

Institutional Trading of ADTRAN

Hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. raised its position in shares of ADTRAN by 1.6% during the 4th quarter. Franklin Resources Inc. now owns 79,692 shares of the communications equipment provider's stock valued at $693,000 after acquiring an additional 1,263 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position 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 valued at $408,000 after purchasing an additional 1,946 shares during the period. Occudo Quantitative Strategies LP boosted its holdings in shares of ADTRAN by 3.2% during the third quarter. Occudo Quantitative Strategies LP now owns 65,702 shares of the communications equipment provider's stock valued at $616,000 after acquiring an additional 2,016 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of ADTRAN by 1.1% during the fourth 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 during the last quarter. Finally, ST Germain D J Co. Inc. increased its holdings in shares of ADTRAN by 100.0% in 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 during the period. Hedge funds and other institutional investors 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.

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