ADTRAN Holdings, Inc. (NASDAQ:ADTN) Stock Has Consensus Price Target of $14.67

Key Points

• ADTRAN has a consensus “Hold” rating from seven analysts, with four buys, two holds and one sell. The average 12-month price target is $14.67, well above the stock’s reported $6.43 price.
• ADTRAN’s latest quarterly results fell short of expectations: adjusted EPS was $0.04 versus a $0.10 consensus estimate, while revenue totaled $281.15 million against expectations of $290.19 million.
• Institutional investors own approximately 80.56% of ADTRAN, with several major funds recently increasing their stakes or initiating new positions.

ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) has been assigned a consensus rating of "Hold" from the seven ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $14.67.

ADTN has been the subject of a number of analyst reports. Evercore set a $11.00 target price on ADTRAN in a research note on Wednesday, August 5th. Weiss Ratings cut ADTRAN from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, September 16th. Northland Securities set a $15.00 price target on ADTRAN in a research note on Wednesday, August 5th. Rosenblatt Securities dropped their price objective on ADTRAN from $20.00 to $15.00 and set a "buy" rating on the stock in a report on Wednesday, August 5th. Finally, Craig Hallum set a $12.00 price objective on ADTRAN in a research report on Wednesday, August 5th.

ADTRAN Trading Down 0.3%

Shares of ADTRAN stock opened at $6.43 on Friday. ADTRAN has a 52-week low of $6.28 and a 52-week high of $19.98. The company has a quick ratio of 1.19, a current ratio of 1.79 and a debt-to-equity ratio of 1.69. The company's 50-day simple moving average is $7.25 and its 200-day simple moving average is $11.48. The firm has a market cap of $523.92 million, a price-to-earnings ratio of -22.96, a price-to-earnings-growth ratio of 3.94 and a beta of 1.48.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of ADTRAN during the 2nd quarter worth approximately $108,923,000. Dimensional Fund Advisors LP increased its stake in ADTRAN by 50.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,337,028 shares of the communications equipment provider's stock valued at $16,817,000 after purchasing an additional 448,848 shares in the last quarter. William Blair Investment Management LLC purchased a new position in ADTRAN in the 2nd quarter valued at approximately $15,276,000. Sei Investments Co. increased its stake in ADTRAN by 162.0% in the 1st quarter. Sei Investments Co. now owns 1,105,110 shares of the communications equipment provider's stock valued at $13,902,000 after purchasing an additional 683,262 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in ADTRAN by 100.4% during the second quarter. Assenagon Asset Management S.A. now owns 917,754 shares of the communications equipment provider's stock worth $12,757,000 after purchasing an additional 459,802 shares during the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

ADTRAN Company Profile

ADTRAN Holdings, Inc NASDAQ: ADTN is a global telecommunications equipment and networking company that provides communications infrastructure for service providers, enterprises and other organizations. The company develops solutions that help network operators deliver broadband, voice, data and cloud-connected services over fiber, copper, wireless and other access technologies.

Its portfolio includes fiber access systems, passive optical networking equipment, broadband access platforms, Ethernet and data networking products, routers, switches, Wi-Fi solutions, fixed wireless access equipment and software for network management and automation.

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