ADTRAN (NASDAQ:ADTN) Receives “Buy” Rating from B. Riley Financial

ADTRAN (NASDAQ:ADTN)‘s stock had its “buy” rating restated by equities researchers at B. Riley Financial in a report issued on Thursday,Benzinga reports. They currently have a $21.00 target price on the communications equipment provider’s stock, down from their prior target price of $23.00. B. Riley Financial’s price objective would indicate a potential upside of 103.11% from the stock’s previous close.

A number of other research analysts also recently commented on ADTN. Wall Street Zen upgraded ADTRAN from a “buy” rating to a “strong-buy” rating in a research note on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of ADTRAN in a research note on Tuesday, June 30th. Needham & Company LLC cut their price objective on shares of ADTRAN from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday. Northland Securities set a $18.00 target price on shares of ADTRAN in a research note on Wednesday, May 6th. Finally, Evercore started coverage on shares of ADTRAN in a research note on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price target on the stock. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.20.

ADTRAN Stock Down 1.1%

ADTRAN stock traded down $0.11 during trading hours on Thursday, hitting $10.34. The company had a trading volume of 342,520 shares, compared to its average volume of 2,008,130. ADTRAN has a fifty-two week low of $7.11 and a fifty-two week high of $19.98. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.77 and a quick ratio of 1.18. The firm has a market capitalization of $842.11 million, a P/E ratio of -26.69 and a beta of 1.44. The firm’s fifty day moving average is $14.50 and its 200-day moving average is $12.75.

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

Hedge Funds Weigh In On ADTRAN

A number of institutional investors have recently modified their holdings of the company. Quarry LP acquired a new stake in shares of ADTRAN in the third quarter worth $36,000. Kestra Advisory Services LLC acquired a new position in ADTRAN in the 4th quarter valued at $36,000. ST Germain D J Co. Inc. grew its stake in ADTRAN by 100.0% in 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 buying an additional 2,500 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in ADTRAN in the 4th quarter worth $47,000. Finally, Freestone Grove Partners LP acquired a new position in ADTRAN during the 4th quarter worth $87,000. Institutional investors own 80.56% of the company’s stock.

ADTRAN News Roundup

Here are the key news stories impacting ADTRAN this week:

• Positive Sentiment: Rosenblatt Securities reaffirmed its buy rating on ADTRAN and raised its price target to $20.00, implying substantial upside from current levels. Benzinga report
• Positive Sentiment: Needham & Company kept a buy rating on ADTRAN, although it lowered its price target from $18.00 to $14.00, suggesting analysts still see upside despite the recent cut. Benzinga report
• Neutral Sentiment: Analyst consensus still points to a positive outlook overall, with published targets remaining above the current share price. American Banking News report
• Negative Sentiment: ADTRAN’s preliminary Q2 revenue and earnings outlook came in below expectations, and the company also gave a softer Q3 revenue range, fueling concerns about demand and margin pressure. Business Wire report
• Negative Sentiment: The disappointing guidance triggered additional negative coverage and a premarket selloff, with investor attention turning to whether the weaker quarter is a one-off or a sign of a slower recovery. MSN report

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.