ADTRAN Holdings, Inc. (NASDAQ:ADTN) Stock Rated “Hold” by Sell-Side Brokerages

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have been given an average rating of “Hold” by the seven brokerages that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $14.67.

ADTN has been the subject of a number of research reports. Zacks Research cut ADTRAN from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 4th. Craig Hallum set a $12.00 price objective on ADTRAN in a report on Wednesday, August 5th. B. Riley Financial restated a “buy” rating and issued a $21.00 price objective (down from $23.00) on shares of ADTRAN in a research note on Thursday, July 23rd. Northland Securities set a $15.00 target price on ADTRAN in a report on Wednesday, August 5th. Finally, Rosenblatt Securities dropped their target price on ADTRAN from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th.

Institutional Trading of ADTRAN

Several institutional investors and hedge funds have recently bought and sold shares of ADTN. Integrated Wealth Concepts LLC acquired a new stake in ADTRAN in the 2nd quarter valued at $27,000. Persistent Asset Partners Ltd acquired a new position in ADTRAN during the second quarter worth $28,000. Swiss National Bank raised its position in ADTRAN by 2.1% during the first quarter. Swiss National Bank now owns 142,600 shares of the communications equipment provider’s stock worth $1,794,000 after acquiring an additional 2,900 shares during the period. Entropy Technologies LP lifted its holdings in ADTRAN by 53.6% during the first quarter. Entropy Technologies LP now owns 15,793 shares of the communications equipment provider’s stock valued at $199,000 after purchasing an additional 5,510 shares in the last quarter. Finally, Quantinno Capital Management LP grew its position in shares of ADTRAN by 18.7% in the first quarter. Quantinno Capital Management LP now owns 52,455 shares of the communications equipment provider’s stock valued at $660,000 after purchasing an additional 8,281 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.

ADTRAN Trading Up 6.6%

Shares of ADTRAN stock opened at $7.62 on Wednesday. The firm’s 50 day simple moving average is $7.59 and its two-hundred day simple moving average is $11.99. The firm has a market capitalization of $620.88 million, a price-to-earnings ratio of -27.21, a PEG ratio of 4.38 and a beta of 1.48. ADTRAN has a 12-month low of $6.73 and a 12-month high of $19.98. The company has a current ratio of 1.79, a quick ratio of 1.19 and a debt-to-equity ratio of 1.69.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Tuesday, August 4th. The communications equipment provider reported $0.04 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.06). The company had revenue of $281.15 million for the quarter, compared to analyst estimates of $290.19 million. ADTRAN had a positive return on equity of 14.24% and a negative net margin of 2.29%.The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Analysts predict that ADTRAN will post 0.16 EPS for the current year.

About ADTRAN

ADTRAN Holdings, Inc is a communications networking company that develops hardware, software and services for telecommunications providers, enterprises and private networks. Its solutions help customers deploy and manage broadband, fiber, Ethernet, fixed wireless and other access networks.

The company’s portfolio includes fiber access platforms, optical networking systems, broadband gateways, routers, switches, Wi-Fi equipment, network management software and cloud-based tools. ADTRAN also provides professional, support and managed services designed to help communications service providers build and operate scalable networks.

Founded in 1985 and headquartered in Huntsville, Alabama, ADTRAN serves customers across North America, Europe and other international markets.