ADTRAN (NASDAQ:ADTN) Earns “Buy” Rating from B. Riley Financial

ADTRAN (NASDAQ:ADTN)‘s stock had its “buy” rating reaffirmed by analysts at B. Riley Financial in a report released on Wednesday, Benzinga reports. They presently have a $14.00 price target on the communications equipment provider’s stock, down from their prior price target of $21.00. B. Riley Financial‘s price objective would indicate a potential upside of 182.26% from the company’s current price.

A number of other analysts also recently issued reports on the company. Evercore set a $11.00 price target on ADTRAN in a research report on Wednesday, August 5th. Craig Hallum set a $12.00 target price on shares of ADTRAN in a research note on Wednesday, August 5th. Weiss Ratings lowered shares of ADTRAN from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, September 16th. Zacks Research upgraded shares of ADTRAN from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Needham & Company LLC cut their price target on shares of ADTRAN from $14.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $11.21.

ADTRAN Trading Down 2.0%

Shares of ADTN stock opened at $4.96 on Wednesday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.19 and a current ratio of 1.79. ADTRAN has a 52-week low of $5.03 and a 52-week high of $19.98. The company has a market capitalization of $404.14 million, a PE ratio of -17.91, a price-to-earnings-growth ratio of 3.84 and a beta of 1.53. The business’s fifty day moving average is $7.05 and its 200 day moving average is $11.00.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Tuesday, November 3rd. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.06. ADTRAN had a positive return on equity of 14.24% and a negative net margin of 2.29%. The company had revenue of $281.17 million during the quarter, compared to analyst estimates of $285.69 million. During the same quarter last year, the company earned $0.05 earnings per share. The firm’s quarterly revenue was up .6% on a year-over-year basis. On average, equities research analysts anticipate that ADTRAN will post 0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of ADTRAN in the second quarter worth $108,923,000. Dimensional Fund Advisors LP increased its holdings in shares of ADTRAN by 50.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,337,028 shares of the communications equipment provider’s stock valued at $16,817,000 after acquiring an additional 448,848 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of ADTRAN during the second quarter valued at $15,276,000. Sei Investments Co. raised its holdings in ADTRAN by 162.0% in the first quarter. Sei Investments Co. now owns 1,105,110 shares of the communications equipment provider’s stock worth $13,902,000 after buying an additional 683,262 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of ADTRAN by 100.4% in the second quarter. Assenagon Asset Management S.A. now owns 917,754 shares of the communications equipment provider’s stock worth $12,757,000 after buying an additional 459,802 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Trending Headlines about ADTRAN

Here are the key news stories impacting ADTRAN this week:

• Positive Sentiment: ADTRAN reported third-quarter EPS of $0.09, above the $0.03 analyst consensus. The company also cited growth in hyperscaler-related demand. ADTRAN Q3 results
• Neutral Sentiment: Needham cut its price target from $14 to $9 but kept a Buy rating, signaling continued optimism while lowering expectations. Analyst forecasts
• Negative Sentiment: Third-quarter revenue was $281.2 million, below the roughly $285.7 million consensus, and increased only 0.6% year over year. Fourth-quarter revenue guidance of $272 million–$292 million also fell short of the $292.7 million estimate. Revenue outlook and analyst forecasts
• Negative Sentiment: Rosenblatt downgraded ADTRAN from Buy to Neutral and cut its target from $15 to $6.25, adding to concerns about the outlook despite the EPS beat. Rosenblatt downgrade

ADTRAN Company Profile

ADTRAN Holdings, Inc (NASDAQ: ADTN) is a global telecommunications equipment and networking company that provides communications infrastructure for service providers, enterprises and other organizations. The company develops solutions that help network operators deliver broadband, voice, data and cloud-connected services over fiber, copper, wireless and other access technologies.

Its portfolio includes fiber access systems, passive optical networking equipment, broadband access platforms, Ethernet and data networking products, routers, switches, Wi-Fi solutions, fixed wireless access equipment and software for network management and automation.