ADTRAN (NASDAQ:ADTN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ADTRAN (NASDAQ:ADTN) from a hold rating to a buy rating in a research report released on Sunday.

Several other equities research analysts have also commented on the stock. Rosenblatt Securities decreased their price objective on shares of ADTRAN from $15.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Wolfe Research assumed coverage on shares of ADTRAN in a research note on Monday, July 7th. They issued a “peer perform” rating for the company. Finally, Needham & Company LLC decreased their price objective on shares of ADTRAN from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

ADTRAN Price Performance

ADTN stock opened at $9.42 on Friday. The firm has a market cap of $753.41 million, a price-to-earnings ratio of -5.54 and a beta of 1.32. The company has a quick ratio of 1.18, a current ratio of 2.02 and a debt-to-equity ratio of 1.37. ADTRAN has a 12-month low of $4.62 and a 12-month high of $12.44. The company’s fifty day simple moving average is $8.54 and its 200 day simple moving average is $9.04.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data on Wednesday, May 7th. The communications equipment provider reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.05. ADTRAN had a negative net margin of 14.58% and a negative return on equity of 20.07%. During the same quarter last year, the company earned $0.02 EPS. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, analysts expect that ADTRAN will post -0.5 earnings per share for the current year.

Hedge Funds Weigh In On ADTRAN

Institutional investors have recently bought and sold shares of the stock. Counterpoint Mutual Funds LLC bought a new stake in shares of ADTRAN in the 2nd quarter worth about $348,000. Park Avenue Securities LLC purchased a new position in ADTRAN in the 2nd quarter worth about $91,000. Strs Ohio purchased a new position in ADTRAN in the 1st quarter worth about $560,000. Caxton Associates LLP purchased a new position in ADTRAN in the 1st quarter worth about $806,000. Finally, Dynamic Technology Lab Private Ltd increased its stake in ADTRAN by 97.5% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 46,026 shares of the communications equipment provider’s stock worth $401,000 after buying an additional 22,726 shares during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.

ADTRAN Company Profile

ADTRAN Holdings, Inc, through its subsidiaries, provides networking and communications platforms, software, systems, and services in the United States, Germany, the United Kingdom, and internationally. It operates through two segments, Network Solutions, and Services & Support. It offers residential gateways; ethernet passive optical network ONUs; gigabit passive optical network/XGS-PON ONTs; traditional SSE, routers, and switches; edge cloud; carrier ethernet network interface devices; Optical Line Terminals; Packet Aggregation, Copper Access, and Oscilloquartz; optical transport and engine solutions; infrastructure monitoring solution; and training, professional, software, and managed services.