BidaskClub upgraded shares of ADTRAN (NASDAQ:ADTN) from a sell rating to a hold rating in a research note issued to investors on Thursday, December 21st.
A number of other brokerages have also recently commented on ADTN. Northland Securities reissued a buy rating and issued a $28.00 price objective on shares of ADTRAN in a research note on Tuesday, September 5th. Zacks Investment Research cut shares of ADTRAN from a strong-buy rating to a hold rating in a research note on Monday, October 23rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. ADTRAN has an average rating of Hold and a consensus target price of $23.21.
ADTRAN (NASDAQ:ADTN) opened at $19.70 on Thursday. The firm has a market cap of $948.55, a price-to-earnings ratio of 22.39, a P/E/G ratio of 2.86 and a beta of 0.77. ADTRAN has a 52 week low of $18.65 and a 52 week high of $25.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.43 and a current ratio of 3.36.
ADTRAN (NASDAQ:ADTN) last posted its earnings results on Tuesday, October 17th. The communications equipment provider reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.13. ADTRAN had a net margin of 6.05% and a return on equity of 9.05%. The company had revenue of $185.11 million during the quarter, compared to analysts’ expectations of $185.43 million. equities analysts predict that ADTRAN will post 0.68 EPS for the current fiscal year.
In related news, SVP Kevin P. Heering sold 9,809 shares of ADTRAN stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $21.60, for a total transaction of $211,874.40. Following the completion of the sale, the senior vice president now owns 10,162 shares in the company, valued at approximately $219,499.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Raymond R. Schansman sold 48,056 shares of ADTRAN stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $21.70, for a total transaction of $1,042,815.20. Following the sale, the senior vice president now owns 11,658 shares of the company’s stock, valued at approximately $252,978.60. The disclosure for this sale can be found here. Company insiders own 2.96% of the company’s stock.
Several large investors have recently bought and sold shares of ADTN. Renaissance Technologies LLC raised its holdings in shares of ADTRAN by 25.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,620,128 shares of the communications equipment provider’s stock valued at $33,456,000 after purchasing an additional 328,600 shares in the last quarter. Northern Trust Corp raised its stake in shares of ADTRAN by 37.1% during the 2nd quarter. Northern Trust Corp now owns 914,639 shares of the communications equipment provider’s stock worth $18,886,000 after acquiring an additional 247,413 shares in the last quarter. FMR LLC raised its stake in shares of ADTRAN by 167.6% during the 2nd quarter. FMR LLC now owns 390,801 shares of the communications equipment provider’s stock worth $8,070,000 after acquiring an additional 244,770 shares in the last quarter. William Blair Investment Management LLC raised its stake in shares of ADTRAN by 28.7% during the 2nd quarter. William Blair Investment Management LLC now owns 853,029 shares of the communications equipment provider’s stock worth $17,615,000 after acquiring an additional 190,309 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of ADTRAN by 204.4% during the 2nd quarter. Prudential Financial Inc. now owns 278,871 shares of the communications equipment provider’s stock worth $5,759,000 after acquiring an additional 187,250 shares in the last quarter. Institutional investors and hedge funds own 91.37% of the company’s stock.
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ADTRAN Company Profile
ADTRAN, Inc (ADTRAN) is a provider of networking and communications equipment. The Company’s solutions enable voice, data, video and Internet communications across a range of network infrastructures. It operates through two segments: Network Solutions and Services & Support. Network Solutions includes software and hardware products that enable CSPs and enterprise customers to realize a fully connected world.
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