Analysts Set ADTRAN Holdings, Inc. (NASDAQ:ADTN) Price Target at $15.33

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has been assigned an average recommendation of “Hold” from the six research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $15.3333.

A number of equities research analysts recently weighed in on ADTN shares. Needham & Company LLC restated a “buy” rating and issued a $14.00 target price on shares of ADTRAN in a report on Thursday, February 26th. Rosenblatt Securities lifted their price target on ADTRAN from $11.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Wall Street Zen lowered ADTRAN from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Argus upgraded ADTRAN to a “hold” rating in a report on Wednesday, March 4th.

ADTRAN Stock Performance

Shares of ADTN stock opened at $11.46 on Friday. The firm has a market capitalization of $924.36 million, a PE ratio of -22.47 and a beta of 1.37. The firm has a fifty day simple moving average of $9.93 and a two-hundred day simple moving average of $9.26. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 1.50. ADTRAN has a 12 month low of $6.93 and a 12 month high of $12.29.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings data on Wednesday, February 25th. The communications equipment provider reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. The firm had revenue of $291.56 million for the quarter, compared to analyst estimates of $281.12 million. ADTRAN had a negative net margin of 4.15% and a positive return on equity of 4.23%. ADTRAN’s revenue for the quarter was up 20.0% compared to the same quarter last year. Analysts forecast that ADTRAN will post -0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On ADTRAN

A number of institutional investors and hedge funds have recently bought and sold shares of ADTN. Franklin Resources Inc. raised its stake 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 worth $693,000 after purchasing an additional 1,263 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 valued at $408,000 after buying an additional 1,946 shares during the period. Occudo Quantitative Strategies LP increased 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 increased its holdings in ADTRAN by 1.1% during 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 worth $1,632,000 after buying an additional 2,068 shares during the last quarter. Finally, ST Germain D J Co. Inc. raised its position 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 acquiring an additional 2,500 shares during the period. 80.56% of the stock is owned by hedge funds and other 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.