ADTRAN (NASDAQ:ADTN) Rating Increased to Strong-Buy at Wall Street Zen

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

A number of other analysts also recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of ADTRAN in a research report on Tuesday, June 30th. Rosenblatt Securities upped their price target on ADTRAN from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. B. Riley Financial reiterated a “buy” rating on shares of ADTRAN in a research note on Friday, May 1st. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of ADTRAN in a report on Wednesday, May 6th. Finally, Northland Securities set a $18.00 price objective on ADTRAN in a research note on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.00.

ADTRAN Stock Down 0.4%

ADTN opened at $11.60 on Monday. The company has a quick ratio of 1.18, a current ratio of 1.77 and a debt-to-equity ratio of 1.59. The stock has a market cap of $939.60 million, a price-to-earnings ratio of -29.74 and a beta of 1.44. ADTRAN has a twelve month low of $7.11 and a twelve month high of $19.98. The company’s 50-day moving average price is $14.67 and its two-hundred day moving average price is $12.72.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.05. The company had revenue of $286.09 million during the quarter, compared to analyst estimates of $285.48 million. ADTRAN had a negative net margin of 3.18% and a positive return on equity of 10.94%. ADTRAN’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 EPS. As a group, equities analysts expect that ADTRAN will post 0.43 earnings per share for the current year.

Hedge Funds Weigh In On ADTRAN

Large investors have recently modified their holdings of the company. Franklin Resources Inc. increased its position in shares of ADTRAN by 1.6% during the 4th quarter. Franklin Resources Inc. now owns 79,692 shares of the communications equipment provider’s stock valued at $693,000 after purchasing an additional 1,263 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of ADTRAN by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,767 shares of the communications equipment provider’s stock valued at $408,000 after buying an additional 1,946 shares in the last quarter. Occudo Quantitative Strategies LP lifted its position in ADTRAN by 3.2% in the 3rd quarter. Occudo Quantitative Strategies LP now owns 65,702 shares of the communications equipment provider’s stock worth $616,000 after buying an additional 2,016 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in ADTRAN by 1.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 187,814 shares of the communications equipment provider’s stock worth $1,632,000 after buying an additional 2,068 shares during the last quarter. Finally, ST Germain D J Co. Inc. boosted its stake in ADTRAN by 100.0% in the fourth quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider’s stock worth $43,000 after buying an additional 2,500 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors.

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.