Shares of ADTRAN, Inc. (NASDAQ:ADTN) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $11.92 and last traded at $12.33, with a volume of 6023 shares changing hands. The stock had previously closed at $12.54.
Several research firms have issued reports on ADTN. Bank of America raised ADTRAN from an “underperform” rating to a “neutral” rating in a report on Thursday, September 13th. MKM Partners boosted their price target on ADTRAN from $21.00 to $22.00 in a report on Thursday, September 13th. ValuEngine raised 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, Zacks Investment Research raised ADTRAN from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Tuesday, October 9th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $17.89.
The company has a quick ratio of 1.96, a current ratio of 2.82 and a debt-to-equity ratio of 0.06. The firm has a market cap of $599.92 million, a PE ratio of 13.48 and a beta of 0.87.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Wednesday, October 31st were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Tuesday, October 30th. ADTRAN’s dividend payout ratio (DPR) is 40.45%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of ADTRAN in the second quarter worth about $151,000. Verition Fund Management LLC bought a new position in shares of ADTRAN in the third quarter worth about $195,000. Dynamic Technology Lab Private Ltd bought a new position in shares of ADTRAN in the third quarter worth about $196,000. SG Americas Securities LLC bought a new position in shares of ADTRAN in the third quarter worth about $224,000. Finally, Virtu Financial LLC bought a new position in shares of ADTRAN in the third quarter worth about $241,000. 94.67% of the stock is owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION WARNING: “ADTRAN (ADTN) Sets New 12-Month Low at $11.92” was originally reported by BBNS and is the property of of BBNS. If you are reading this news story on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The original version of this news story can be read at https://baseballnewssource.com/2018/12/08/adtran-adtn-sets-new-12-month-low-at-11-92/3065337.html.
ADTRAN Company Profile (NASDAQ:ADTN)
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.
Featured Story: How to Invest in Growth Stocks
Receive News & Ratings for ADTRAN Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ADTRAN and related companies with MarketBeat.com's FREE daily email newsletter.