ADTRAN Holdings, Inc. (NASDAQ:ADTN) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts collectively rate ADTRAN “Hold.” Of seven analysts, four recommend buying, one recommends holding, and two recommend selling; the average 12-month price target is $14.67.
• Several firms recently cut their price targets, including Rosenblatt to $15, Needham to $14, and B. Riley to $21, while Weiss Ratings and Zacks Research downgraded the stock.
• ADTRAN shares opened at $6.87, near their 52-week low of $6.76. The company’s latest quarterly results missed expectations, with EPS of $0.04 versus $0.10 expected and revenue of $281.15 million versus $290.19 million forecast.

ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) has earned a consensus recommendation of "Hold" from the seven ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $14.67.

A number of analysts have recently commented on ADTN shares. Weiss Ratings lowered ADTRAN from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, September 16th. Rosenblatt Securities dropped their target price on ADTRAN from $20.00 to $15.00 and set a "buy" rating on the stock in a research report on Wednesday, August 5th. Needham & Company LLC dropped their target price on ADTRAN from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, July 23rd. Zacks Research cut ADTRAN from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 4th. Finally, B. Riley Financial reaffirmed a "buy" rating and set a $21.00 price target (down from $23.00) on shares of ADTRAN in a research report on Thursday, July 23rd.

Institutional Trading of ADTRAN

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADTN. BlackRock Inc. acquired a new position in ADTRAN during the second quarter valued at approximately $108,923,000. William Blair Investment Management LLC bought a new position in ADTRAN in the second quarter valued at about $15,276,000. Bank of America Corp DE bought a new position in shares of ADTRAN during the second quarter valued at $11,751,000. Heartland Advisors Inc. acquired a new position in ADTRAN during the 2nd quarter worth about $10,425,000. Finally, Sei Investments Co. lifted its stake in shares of ADTRAN by 162.0% in the first quarter. Sei Investments Co. now owns 1,105,110 shares of the communications equipment provider's stock worth $13,902,000 after acquiring an additional 683,262 shares during the period. 80.56% of the stock is owned by institutional investors.

ADTRAN Trading Up 1.0%

Shares of NASDAQ ADTN opened at $6.87 on Wednesday. The company's 50 day simple moving average is $7.86 and its 200 day simple moving average is $12.11. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.79 and a quick ratio of 1.19. The firm has a market capitalization of $559.77 million, a P/E ratio of -24.53, a P/E/G ratio of 4.16 and a beta of 1.47. ADTRAN has a fifty-two week low of $6.76 and a fifty-two week high of $19.98.

ADTRAN (NASDAQ:ADTN - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The communications equipment provider reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.06). ADTRAN had a positive return on equity of 14.24% and a negative net margin of 2.29%.The firm had revenue of $281.15 million for the quarter, compared to the consensus estimate of $290.19 million. ADTRAN's revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts predict that ADTRAN will post 0.16 EPS for the current year.

ADTRAN Company Profile

ADTRAN Holdings, Inc NASDAQ: ADTN is a provider of networking and communications equipment, software and services for telecommunications companies, broadband providers, enterprises and government organizations. The company develops solutions that help service providers build and manage high-speed access networks, including fiber, fixed wireless and other broadband technologies.

Its portfolio includes access and aggregation platforms, optical networking systems, routers, switches, Wi-Fi equipment, cloud and network management software, and related professional and support services.

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