ADTRAN (NASDAQ:ADTN) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of ADTRAN (NASDAQ:ADTN) from a strong-buy rating to a buy rating in a report released on Saturday.

Several other brokerages have also issued reports on ADTN. Needham & Company LLC reissued a “buy” rating and issued a $14.00 price target on shares of ADTRAN in a research note on Thursday, February 26th. Rosenblatt Securities raised their price objective on shares of ADTRAN from $11.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, Argus upgraded shares of ADTRAN to a “hold” rating in a research report on Wednesday, March 4th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, ADTRAN presently has a consensus rating of “Hold” and a consensus target price of $15.33.

ADTRAN Trading Up 5.3%

NASDAQ ADTN opened at $12.07 on Friday. The company has a market cap of $973.57 million, a price-to-earnings ratio of -23.67 and a beta of 1.37. ADTRAN has a twelve month low of $6.93 and a twelve month high of $12.29. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 1.50. The business’s fifty day moving average is $9.99 and its 200 day moving average is $9.28.

ADTRAN (NASDAQ:ADTN) last issued its earnings results on Wednesday, February 25th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.08. ADTRAN had a positive return on equity of 4.23% and a negative net margin of 4.15%.The business had revenue of $291.56 million during the quarter, compared to analysts’ expectations of $281.12 million. The business’s revenue was up 20.0% on a year-over-year basis. As a group, sell-side analysts expect that ADTRAN will post -0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On ADTRAN

Institutional investors have recently bought and sold shares of the stock. Cape Investment Advisory Inc. bought a new stake in shares of ADTRAN in the 2nd quarter worth $27,000. State of Alaska Department of Revenue bought a new position in shares of ADTRAN in the third quarter valued at approximately $36,000. Quarry LP bought a new position in shares of ADTRAN in the third quarter valued at approximately $36,000. Kestra Advisory Services LLC purchased a new stake in shares of ADTRAN during the fourth quarter valued at approximately $36,000. Finally, ST Germain D J Co. Inc. increased its position in shares of ADTRAN by 100.0% during the fourth quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider’s stock valued at $43,000 after acquiring an additional 2,500 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

ADTRAN Company Profile

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company’s product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.