ADTRAN (NASDAQ:ADTN) Earns Buy Rating from Analysts at B. Riley

Key Points

• Coverage of ADTRAN (NASDAQ:ADTN) has been initiated by B. Riley with a "buy" rating, while the average target price for the stock is currently set at $12.80.
• ADTRAN's stock has experienced a 9.2% increase recently, opening at $9.58 with a twelve-month range between $5.57 and $12.44.
• For the most recent quarter, ADTRAN reported a loss of ($0.26) earnings per share, falling short of analysts' estimates, despite a year-over-year revenue increase of 17.3%.

B. Riley began coverage on shares of ADTRAN (NASDAQ:ADTN - Free Report) in a report published on Wednesday, Marketbeat reports. The firm issued a buy rating and a $16.00 price objective on the communications equipment provider's stock.

Other analysts also recently issued reports about the company. Wolfe Research assumed coverage on ADTRAN in a research report on Monday, July 7th. They set a "peer perform" rating for the company. Wall Street Zen downgraded ADTRAN from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, ADTRAN presently has an average rating of "Moderate Buy" and a consensus target price of $12.80.

ADTRAN Stock Performance

ADTN traded down $0.07 during trading on Wednesday, hitting $9.58. The stock had a trading volume of 330,832 shares, compared to its average volume of 1,218,424. The company has a 50 day moving average price of $9.30 and a 200-day moving average price of $8.64. The firm has a market cap of $766.21 million, a price-to-earnings ratio of -7.32 and a beta of 1.39. ADTRAN has a one year low of $5.63 and a one year high of $12.44. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.96 and a quick ratio of 1.19.

ADTRAN (NASDAQ:ADTN - Get Free Report) last released its earnings results on Monday, August 4th. The communications equipment provider reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.27). The company had revenue of $265.07 million for the quarter, compared to the consensus estimate of $255.57 million. ADTRAN had a negative net margin of 11.02% and a negative return on equity of 10.09%. The business's revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.24) earnings per share. As a group, research analysts predict that ADTRAN will post -0.5 EPS for the current year.

Institutional Trading of ADTRAN

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. purchased a new stake in ADTRAN in the second quarter valued at approximately $27,000. FNY Investment Advisers LLC purchased a new stake in ADTRAN in the first quarter valued at $65,000. New York State Teachers Retirement System purchased a new stake in shares of ADTRAN in the second quarter valued at about $65,000. Park Avenue Securities LLC purchased a new position in ADTRAN during the second quarter worth about $91,000. Finally, Ballentine Partners LLC purchased a new position in ADTRAN during the first quarter worth about $94,000. Hedge funds and other institutional investors own 80.56% of the company's stock.

ADTRAN Company Profile

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.