ADTRAN (NASDAQ:ADTN) Hits New 52-Week High – Still a Buy?

ADTRAN Holdings, Inc. (NASDAQ:ADTN) reached a new 52-week high on Tuesday . The stock traded as high as $12.37 and last traded at $12.2810, with a volume of 250856 shares traded. The stock had previously closed at $12.07.

Wall Street Analyst Weigh In

ADTN has been the subject of several recent analyst reports. Wall Street Zen cut ADTRAN from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 21st. Rosenblatt Securities increased their price objective on shares of ADTRAN from $11.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Argus upgraded shares of ADTRAN to a “hold” rating in a report on Wednesday, March 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price target on shares of ADTRAN in a research report on Thursday, February 26th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.33.

ADTRAN Stock Up 0.9%

The stock has a fifty day moving average of $10.14 and a two-hundred day moving average of $9.32. 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 stock has a market cap of $1.02 billion, a price-to-earnings ratio of -24.78 and a beta of 1.37.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings results on Wednesday, February 25th. The communications equipment provider reported $0.16 EPS for the quarter, topping the consensus estimate of $0.08 by $0.08. The company had revenue of $291.56 million during the quarter, compared to analyst estimates of $281.12 million. ADTRAN had a positive return on equity of 4.23% and a negative net margin of 4.15%.ADTRAN’s quarterly revenue was up 20.0% compared to the same quarter last year. As a group, analysts predict that ADTRAN Holdings, Inc. will post -0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ADTN. Cape Investment Advisory Inc. purchased a new stake in ADTRAN during the second quarter worth approximately $27,000. State of Alaska Department of Revenue acquired a new stake in shares of ADTRAN in the third quarter worth $36,000. Quarry LP purchased a new position in shares of ADTRAN in the 3rd quarter valued at $36,000. Kestra Advisory Services LLC acquired a new position in shares of ADTRAN during the 4th quarter valued at $36,000. Finally, ST Germain D J Co. Inc. lifted its holdings in shares of ADTRAN by 100.0% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

About ADTRAN

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.