ADTRAN’s (ADTN) Buy Rating Reaffirmed at Needham & Company LLC

ADTRAN (NASDAQ:ADTN)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a report released on Wednesday, Benzinga reports. They currently have a $8.00 target price on the communications equipment provider’s stock. Needham & Company LLC’s price target points to a potential upside of 69.85% from the stock’s current price.

A number of other research analysts have also recently issued reports on ADTN. Rosenblatt Securities decreased their price target on shares of ADTRAN from $8.00 to $7.50 and set a “neutral” rating for the company in a report on Wednesday, February 28th. StockNews.com upgraded shares of ADTRAN to a “sell” rating in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, ADTRAN currently has a consensus rating of “Hold” and an average price target of $10.50.

ADTRAN Price Performance

Shares of NASDAQ ADTN traded up $0.08 during mid-day trading on Wednesday, hitting $4.71. 288,103 shares of the company’s stock traded hands, compared to its average volume of 747,614. The company’s 50-day moving average is $5.72 and its two-hundred day moving average is $6.36. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.64 and a quick ratio of 1.34. The company has a market capitalization of $372.66 million, a P/E ratio of -1.47 and a beta of 1.13. ADTRAN has a 1 year low of $4.61 and a 1 year high of $11.02.

ADTRAN (NASDAQ:ADTN) last issued its earnings results on Monday, February 26th. The communications equipment provider reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($1.01). ADTRAN had a negative return on equity of 15.65% and a negative net margin of 21.80%. The company had revenue of $225.48 million during the quarter, compared to the consensus estimate of $232.45 million. On average, equities analysts anticipate that ADTRAN will post -0.25 EPS for the current fiscal year.

Institutional Trading of ADTRAN

A number of large investors have recently bought and sold shares of ADTN. FMR LLC increased its holdings in shares of ADTRAN by 41.3% in the 2nd quarter. FMR LLC now owns 1,965 shares of the communications equipment provider’s stock valued at $35,000 after purchasing an additional 574 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of ADTRAN by 165.6% in the first quarter. Tower Research Capital LLC TRC now owns 2,223 shares of the communications equipment provider’s stock worth $35,000 after acquiring an additional 1,386 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in shares of ADTRAN in the third quarter worth approximately $46,000. Cape Investment Advisory Inc. acquired a new position in ADTRAN during the fourth quarter valued at approximately $27,000. Finally, US Bancorp DE lifted its position in ADTRAN by 328.0% during the second quarter. US Bancorp DE now owns 3,835 shares of the communications equipment provider’s stock valued at $40,000 after buying an additional 2,939 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Company Profile

ADTRAN Holdings, Inc, through its subsidiaries, provides networking and communications platforms, software, systems, and services in the United States, Germany, the United Kingdom, and internationally. It operates through two segments, Network Solutions, and Services & Support. It offers residential gateways; ethernet passive optical network ONUs; gigabit passive optical network/XGS-PON ONTs; traditional SSE, routers, and switches; edge cloud; carrier ethernet network interface devices; Optical Line Terminals; Packet Aggregation, Copper Access, and Oscilloquartz; optical transport and engine solutions; infrastructure monitoring solution; and training, professional, software, and managed services.