Cowen reiterated their hold rating on shares of ADTRAN (NASDAQ:ADTN) in a research note issued to investors on Friday, December 29th. Cowen currently has a $16.00 target price on the communications equipment provider’s stock.
Other equities research analysts have also recently issued reports about the stock. BidaskClub cut shares of ADTRAN from a hold rating to a sell rating in a research note on Tuesday, December 12th. Zacks Investment Research cut shares of ADTRAN from a strong-buy rating to a hold rating in a research report on Monday, October 23rd. Northland Securities set a $28.00 target price on shares of ADTRAN and gave the stock a buy rating in a research report on Wednesday, October 18th. Finally, MKM Partners decreased their target price on shares of ADTRAN from $27.00 to $25.00 and set a buy rating on the stock in a research report on Friday, December 29th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. ADTRAN presently has an average rating of Hold and an average price target of $23.21.
ADTRAN (ADTN) opened at $19.70 on Friday. ADTRAN has a twelve month low of $18.65 and a twelve month high of $25.10. The firm has a market cap of $948.56, a PE ratio of 21.41, a price-to-earnings-growth ratio of 2.86 and a beta of 0.77. The company has a current ratio of 3.36, a quick ratio of 2.43 and a debt-to-equity ratio of 0.05.
ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Tuesday, October 17th. The communications equipment provider reported $0.37 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $185.43 million. equities research analysts anticipate that ADTRAN will post 0.68 earnings per share for the current fiscal year.
In other ADTRAN news, SVP Kevin P. Heering sold 9,809 shares of ADTRAN stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $21.60, for a total transaction of $211,874.40. Following the transaction, the senior vice president now directly owns 10,162 shares of the company’s stock, valued at $219,499.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Raymond R. Schansman sold 48,056 shares of ADTRAN stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 11,658 shares in the company, valued at $252,978.60. The disclosure for this sale can be found here. 2.96% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in ADTN. Public Employees Retirement System of Ohio lifted its position in ADTRAN by 5.8% during the second quarter. Public Employees Retirement System of Ohio now owns 6,804 shares of the communications equipment provider’s stock valued at $141,000 after buying an additional 373 shares in the last quarter. Thompson Davis & CO. Inc. acquired a new position in ADTRAN during the third quarter valued at approximately $157,000. SG Americas Securities LLC acquired a new position in ADTRAN during the third quarter valued at approximately $190,000. Suntrust Banks Inc. acquired a new position in ADTRAN during the second quarter valued at approximately $208,000. Finally, Crossmark Global Holdings Inc. acquired a new position in ADTRAN during the third quarter valued at approximately $211,000. 91.37% of the stock is currently owned by hedge funds and other institutional investors.
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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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