ADTRAN’s (ADTN) “Buy” Rating Reiterated at Rosenblatt Securities

ADTRAN (NASDAQ:ADTN)‘s stock had its “buy” rating reissued by analysts at Rosenblatt Securities in a research note issued to investors on Thursday,Benzinga reports. They presently have a $11.00 price target on the communications equipment provider’s stock. Rosenblatt Securities’ price target indicates a potential upside of 10.44% from the company’s current price.

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price objective on shares of ADTRAN in a research report on Tuesday, November 25th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.00.

ADTRAN Stock Down 1.9%

ADTN stock opened at $9.96 on Thursday. ADTRAN has a fifty-two week low of $6.93 and a fifty-two week high of $12.44. The stock has a market capitalization of $798.00 million, a price-to-earnings ratio of -9.31 and a beta of 1.39. The business’s fifty day moving average price is $9.23 and its two-hundred day moving average price is $9.05. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.96 and a quick ratio of 1.23.

Insiders Place Their Bets

In related news, CEO Thomas R. Stanton purchased 40,928 shares of ADTRAN stock in a transaction on Monday, November 24th. The shares were purchased at an average price of $7.33 per share, for a total transaction of $300,002.24. Following the transaction, the chief executive officer owned 982,096 shares of the company’s stock, valued at approximately $7,198,763.68. This represents a 4.35% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Timothy P. Santo bought 6,150 shares of the firm’s stock in a transaction on Friday, November 28th. The shares were purchased at an average cost of $8.02 per share, with a total value of $49,323.00. Following the transaction, the chief financial officer directly owned 26,594 shares in the company, valued at approximately $213,283.88. This trade represents a 30.08% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 59,937 shares of company stock valued at $449,754. 1.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ADTN. Franklin Resources Inc. raised its position in shares of ADTRAN by 1.6% during the fourth quarter. Franklin Resources Inc. now owns 79,692 shares of the communications equipment provider’s stock worth $693,000 after purchasing an additional 1,263 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in ADTRAN by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,767 shares of the communications equipment provider’s stock worth $408,000 after buying an additional 1,946 shares during the last quarter. Occudo Quantitative Strategies LP raised its holdings in ADTRAN by 3.2% during the third 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 stake in shares of ADTRAN by 1.1% in the fourth 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 valued at $1,632,000 after buying an additional 2,068 shares in the last quarter. Finally, ST Germain D J Co. Inc. grew its holdings 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 buying an additional 2,500 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

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.