Analysts Set ADTRAN Holdings, Inc. (NASDAQ:ADTN) Target Price at $7.67

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have received a consensus recommendation of “Moderate Buy” from the five ratings firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $7.67.

Several research firms have weighed in on ADTN. Needham & Company LLC reiterated a “buy” rating and set a $8.00 price objective on shares of ADTRAN in a research report on Monday, May 20th. StockNews.com raised shares of ADTRAN from a “sell” rating to a “hold” rating in a research report on Monday, June 10th. Northland Securities raised shares of ADTRAN from a “market perform” rating to an “outperform” rating and set a $7.50 price objective for the company in a report on Wednesday, May 8th. Finally, Northland Capmk raised shares of ADTRAN from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 8th.

Hedge Funds Weigh In On ADTRAN

Large investors have recently modified their holdings of the business. Koesten Hirschmann & Crabtree INC. raised its position in shares of ADTRAN by 13.9% during the first quarter. Koesten Hirschmann & Crabtree INC. now owns 54,099 shares of the communications equipment provider’s stock worth $294,000 after acquiring an additional 6,587 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in ADTRAN by 25.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,184,939 shares of the communications equipment provider’s stock worth $6,446,000 after purchasing an additional 237,739 shares during the last quarter. Bayesian Capital Management LP acquired a new position in shares of ADTRAN in the 1st quarter worth approximately $256,000. Public Employees Retirement System of Ohio boosted its stake in shares of ADTRAN by 37.9% in the 1st quarter. Public Employees Retirement System of Ohio now owns 118,066 shares of the communications equipment provider’s stock valued at $642,000 after purchasing an additional 32,446 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of ADTRAN by 3.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 83,155 shares of the communications equipment provider’s stock worth $453,000 after buying an additional 2,764 shares during the period. Institutional investors own 80.56% of the company’s stock.

ADTRAN Stock Performance

Shares of ADTN opened at $5.12 on Thursday. The company has a market cap of $405.09 million, a PE ratio of -0.74 and a beta of 1.21. The firm has a 50-day moving average of $5.15 and a 200-day moving average of $5.85. ADTRAN has a one year low of $4.34 and a one year high of $10.96. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.46 and a quick ratio of 1.33.

ADTRAN (NASDAQ:ADTN) last issued its earnings results on Tuesday, May 7th. The communications equipment provider reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.05. ADTRAN had a negative return on equity of 18.98% and a negative net margin of 51.42%. The company had revenue of $226.17 million during the quarter, compared to the consensus estimate of $223.00 million. As a group, equities analysts forecast that ADTRAN will post -0.23 earnings per share for the current year.

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.