Zacks Investment Research upgraded shares of ADTRAN (NASDAQ:ADTN) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. The brokerage currently has $19.00 target price on the communications equipment provider’s stock.
According to Zacks, “ADTRAN offers a complete portfolio of maintenance, turnkey network implementation, solutions integration and managed services to accelerate time to market, reduce costs and improve customer satisfaction. The company is accelerating the industry’s transition to open, programmable, scalable networks by leveraging the ADTRAN Mosaic Software-Defined Access architecture that combines modern Web-scale technologies with open-source platforms to facilitate rapid innovation in multi-technology, multi-vendor environments. The company expects solid traction in its domestic markets for ultra broadband and Fiber-To-The-Home solutions along with SD access and EPON solutions. ADTRAN has also outperformed the industry in the past six months on an average. However, high technological obsolescence increases its operating costs with continuous investments in R&D efforts, limiting its growth potential to some extent.”
A number of other brokerages have also recently issued reports on ADTN. Bank of America raised ADTRAN from an underperform rating to a neutral rating in a research report on Thursday, September 13th. MKM Partners upped their price target on ADTRAN from $21.00 to $22.00 in a report on Thursday, September 13th. ValuEngine upgraded ADTRAN from a hold rating to a buy rating in a report on Wednesday, September 12th. BidaskClub lowered ADTRAN from a buy rating to a hold rating in a report on Tuesday, October 2nd. Finally, Northland Securities lowered ADTRAN from an outperform rating to a market perform rating and set a $17.00 price target for the company. in a report on Wednesday, July 18th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $18.04.
Shares of ADTRAN stock opened at $16.96 on Tuesday. The company has a market cap of $842.60 million, a price-to-earnings ratio of 19.06 and a beta of 0.53. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.93 and a quick ratio of 1.90. ADTRAN has a 12-month low of $13.95 and a 12-month high of $25.10.
ADTRAN (NASDAQ:ADTN) last announced its earnings results on Tuesday, July 17th. The communications equipment provider reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.15. The firm had revenue of $128.05 million during the quarter, compared to analysts’ expectations of $127.80 million. ADTRAN had a negative return on equity of 0.56% and a negative net margin of 2.15%. During the same quarter in the prior year, the business earned $0.26 earnings per share. As a group, equities analysts predict that ADTRAN will post -0.44 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of ADTN. SG Americas Securities LLC acquired a new position in shares of ADTRAN during the first quarter worth approximately $122,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of ADTRAN during the second quarter worth approximately $151,000. Xact Kapitalforvaltning AB acquired a new position in shares of ADTRAN during the second quarter worth approximately $168,000. Koch Industries Inc. acquired a new position in shares of ADTRAN during the first quarter worth approximately $236,000. Finally, Raymond James & Associates acquired a new position in shares of ADTRAN during the second quarter worth approximately $272,000. Institutional investors own 95.12% of the company’s stock.
ADTRAN, Inc provides networking and communications equipment worldwide. The company operates through two segments, Network Solutions and Services & Support. It offers access and aggregation solutions, including network management and subscriber services control and orchestration software within a SD-access architecture; SDN-controlled programmable network elements; fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; fiber to the distribution point optical network units; optical line terminals; optical networking edge aggregation; and IP digital subscriber line access multiplexers.
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