Shares of ADTRAN, Inc. (NASDAQ:ADTN) have been assigned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $23.42.
ADTN has been the topic of a number of recent research reports. Zacks Investment Research raised ADTRAN from a “hold” rating to a “strong-buy” rating and set a $26.00 target price on the stock in a report on Friday, October 20th. BidaskClub cut ADTRAN from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Northland Securities set a $28.00 target price on ADTRAN and gave the stock a “buy” rating in a report on Wednesday, October 18th. MKM Partners decreased their target price on ADTRAN from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, December 29th. Finally, Cowen reaffirmed a “hold” rating and issued a $16.00 target price on shares of ADTRAN in a report on Friday, December 29th.
ADTRAN (NASDAQ:ADTN) traded down $0.30 during mid-day trading on Tuesday, hitting $19.45. The stock had a trading volume of 302,061 shares, compared to its average volume of 536,510. The stock has a market cap of $950.95, a P/E ratio of 22.10, a P/E/G ratio of 2.80 and a beta of 0.77. ADTRAN has a 52-week low of $18.65 and a 52-week high of $25.10. The company has a current ratio of 3.36, a quick ratio of 2.43 and a debt-to-equity ratio of 0.05.
In other ADTRAN news, SVP Kevin P. Heering sold 9,809 shares of the firm’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $21.60, for a total transaction of $211,874.40. Following the sale, 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 SEC, which is available through this hyperlink. Also, SVP Raymond R. Schansman sold 48,056 shares of the firm’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $21.70, for a total value of $1,042,815.20. Following the sale, the senior vice president now directly owns 11,658 shares in the company, valued at $252,978.60. The disclosure for this sale can be found here. 2.96% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the business. Thompson Davis & CO. Inc. purchased a new position in shares of ADTRAN during the third quarter valued at about $157,000. Public Employees Retirement System of Ohio grew its position in shares of 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 purchasing an additional 373 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of ADTRAN during the third quarter valued at about $190,000. Crossmark Global Holdings Inc. purchased a new position in shares of ADTRAN during the third quarter valued at about $211,000. Finally, Macquarie Group Ltd. purchased a new position in shares of ADTRAN during the third quarter valued at about $227,000. 91.37% of the stock is currently owned by institutional investors and hedge funds.
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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