BidaskClub lowered shares of ADTRAN (NASDAQ:ADTN) from a sell rating to a strong sell rating in a research report sent to investors on Friday morning.
Other equities research analysts have also recently issued research reports about the stock. Needham & Company LLC reiterated a buy rating and set a $22.00 price target (down previously from $26.00) on shares of ADTRAN in a report on Friday, January 12th. Northland Securities reiterated a buy rating and set a $23.00 price target on shares of ADTRAN in a report on Thursday. MKM Partners cut their price target on shares of ADTRAN from $27.00 to $25.00 and set a buy rating on the stock in a report on Friday, December 29th. Jefferies Group reiterated a hold rating and set a $17.25 price target on shares of ADTRAN in a report on Thursday. Finally, Cowen reiterated a hold rating and set a $16.00 price target on shares of ADTRAN in a report on Friday, December 29th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $21.41.
Shares of ADTRAN (ADTN) traded down $0.27 during midday trading on Friday, hitting $16.40. 1,046,200 shares of the company’s stock were exchanged, compared to its average volume of 710,623. ADTRAN has a fifty-two week low of $16.25 and a fifty-two week high of $25.10. The company has a market capitalization of $789.65, a P/E ratio of 33.47, a price-to-earnings-growth ratio of 5.56 and a beta of 0.77. The company has a quick ratio of 2.79, a current ratio of 3.98 and a debt-to-equity ratio of 0.05.
ADTRAN (NASDAQ:ADTN) last announced its earnings results on Tuesday, January 16th. The communications equipment provider reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.04. ADTRAN had a net margin of 3.58% and a return on equity of 7.95%. The business had revenue of $126.52 million during the quarter, compared to the consensus estimate of $125.90 million. research analysts forecast that ADTRAN will post 0.29 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Tuesday, January 30th. ADTRAN’s payout ratio is 73.47%.
A number of hedge funds have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. boosted its holdings in ADTRAN by 2.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 442,932 shares of the communications equipment provider’s stock worth $8,571,000 after purchasing an additional 11,252 shares during the last quarter. Atlantic Trust Group LLC purchased a new stake in ADTRAN in the third quarter worth approximately $1,198,000. Algert Global LLC boosted its holdings in ADTRAN by 19.8% in the third quarter. Algert Global LLC now owns 131,331 shares of the communications equipment provider’s stock worth $3,152,000 after purchasing an additional 21,727 shares during the last quarter. California Public Employees Retirement System boosted its holdings in ADTRAN by 4.9% in the third quarter. California Public Employees Retirement System now owns 187,914 shares of the communications equipment provider’s stock worth $4,510,000 after purchasing an additional 8,814 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in ADTRAN in the third quarter worth approximately $447,000. Institutional investors 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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