ValuEngine Upgrades ADTRAN (ADTN) to “Buy”

ADTRAN (NASDAQ:ADTN) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Friday, ValuEngine reports.

A number of other brokerages have also recently issued reports on ADTN. BidaskClub upgraded shares of ADTRAN from a “hold” rating to a “buy” rating in a research note on Thursday, January 31st. Needham & Company LLC cut shares of ADTRAN from a “buy” rating to a “hold” rating in a research note on Tuesday, January 29th. Zacks Investment Research cut shares of ADTRAN from a “hold” rating to a “sell” rating in a research note on Thursday, January 31st. Northland Securities set a $24.00 price objective on shares of ADTRAN and gave the company a “buy” rating in a research note on Thursday, December 20th. Finally, MKM Partners dropped their price objective on shares of ADTRAN to $17.00 and set a “buy” rating for the company in a research note on Thursday, December 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $17.50.

Shares of ADTRAN stock opened at $16.59 on Friday. The company has a quick ratio of 2.17, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. ADTRAN has a fifty-two week low of $10.21 and a fifty-two week high of $19.30. The firm has a market capitalization of $744.37 million, a price-to-earnings ratio of -35.30 and a beta of 1.26.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data on Wednesday, April 17th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.19. ADTRAN had a negative net margin of 3.34% and a negative return on equity of 4.42%.

Several hedge funds have recently made changes to their positions in ADTN. Norges Bank acquired a new position in shares of ADTRAN in the 4th quarter valued at $6,121,000. WINTON GROUP Ltd acquired a new stake in shares of ADTRAN during the 4th quarter worth about $3,149,000. BlackRock Inc. increased its position in shares of ADTRAN by 2.7% during the 3rd quarter. BlackRock Inc. now owns 7,123,806 shares of the communications equipment provider’s stock worth $125,733,000 after purchasing an additional 189,442 shares in the last quarter. Millennium Management LLC increased its position in shares of ADTRAN by 77.6% during the 4th quarter. Millennium Management LLC now owns 352,870 shares of the communications equipment provider’s stock worth $3,790,000 after purchasing an additional 154,189 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new stake in shares of ADTRAN during the 4th quarter worth about $1,049,000. Institutional investors own 92.91% of the company’s stock.

ADTRAN Company Profile

ADTRAN, Inc provides networking and communications equipment worldwide. The company operates through two segments, Network Solutions and Services & Support. It offers access and aggregation solutions, including network management and subscriber services control and orchestration software within a SD-access architecture; SDN-controlled programmable network elements; fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; fiber to the distribution point optical network units; optical line terminals; optical networking edge aggregation; and IP digital subscriber line access multiplexers.

Further Reading: Depreciation

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Analyst Recommendations for ADTRAN (NASDAQ:ADTN)

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