A number of other brokerages have also issued reports on ADTN. BidaskClub raised ADTRAN from a sell rating to a hold rating in a research report on Thursday, December 21st. Zacks Investment Research lowered ADTRAN from a buy rating to a hold rating in a research report on Tuesday, September 19th. Northland Securities set a $28.00 target price on ADTRAN and gave the stock a buy rating in a research report on Wednesday, October 18th. MKM Partners cut their target price on ADTRAN from $27.00 to $25.00 and set a buy rating on the stock in a research report on Friday, December 29th. Finally, Goldman Sachs Group raised ADTRAN from a sell rating to a neutral rating and set a $17.00 target price on the stock in a research report on Monday, January 15th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $21.41.
Shares of ADTRAN (ADTN) opened at $16.40 on Wednesday. The stock has a market capitalization of $789.65, a price-to-earnings ratio of 33.47, a PEG ratio of 2.73 and a beta of 0.77. The company has a current ratio of 3.98, a quick ratio of 2.43 and a debt-to-equity ratio of 0.05. ADTRAN has a 52-week low of $16.25 and a 52-week high of $25.10.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.20%. The ex-dividend date is Tuesday, January 30th. ADTRAN’s payout ratio is 73.47%.
In related news, SVP Kevin P. Heering sold 9,809 shares of the company’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $21.60, for a total transaction of $211,874.40. Following the transaction, the senior vice president now directly owns 10,162 shares of the company’s stock, valued at $219,499.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.96% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio raised its position in ADTRAN by 5.8% during the second quarter. Public Employees Retirement System of Ohio now owns 6,804 shares of the communications equipment provider’s stock valued at $141,000 after buying an additional 373 shares during the period. Thompson Davis & CO. Inc. acquired a new position in ADTRAN during the third quarter valued at $157,000. SG Americas Securities LLC acquired a new position in ADTRAN during the third quarter valued at $190,000. Suntrust Banks Inc. acquired a new position in ADTRAN during the second quarter valued at $208,000. Finally, Crossmark Global Holdings Inc. acquired a new position in ADTRAN during the third quarter valued at $211,000. 91.37% of the stock is currently owned by hedge funds and other institutional investors.
ADTRAN, Inc (ADTRAN) is a provider of networking and communications equipment. The Company’s solutions enable voice, data, video and Internet communications across a range of network infrastructures. It operates through two segments: Network Solutions and Services & Support. Network Solutions includes software and hardware products that enable CSPs and enterprise customers to realize a fully connected world.
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