ADTRAN, Inc. (ADTN) Given Average Rating of “Hold” by Analysts

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.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Tuesday, October 17th. The communications equipment provider reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.13. The firm had revenue of $185.11 million for the quarter, compared to the consensus estimate of $185.43 million. ADTRAN had a return on equity of 9.05% and a net margin of 6.05%. sell-side analysts expect that ADTRAN will post 0.68 earnings per share for the current year.

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.

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About ADTRAN

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.

Analyst Recommendations for ADTRAN (NASDAQ:ADTN)

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