ADTRAN Holdings, Inc. (NASDAQ:ADTN) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have earned an average rating of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $12.00.

Several research firms have recently issued reports on ADTN. Needham & Company LLC lowered their price objective on ADTRAN from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Rosenblatt Securities lowered their price objective on 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 ADTRAN in a report on Monday, July 7th. They issued a “peer perform” rating on the stock. Finally, Wall Street Zen cut ADTRAN from a “buy” rating to a “hold” rating in a report on Saturday.

ADTRAN Stock Performance

ADTRAN stock opened at $9.20 on Monday. The business has a 50 day moving average of $8.35 and a 200-day moving average of $9.00. ADTRAN has a 1 year low of $4.62 and a 1 year high of $12.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 2.02 and a quick ratio of 1.18. The company has a market capitalization of $735.82 million, a P/E ratio of -5.41 and a beta of 1.32.

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

Institutional Trading of ADTRAN

Institutional investors have recently added to or reduced their stakes in the stock. Quantinno Capital Management LP boosted its holdings in shares of ADTRAN by 4.3% during the 4th quarter. Quantinno Capital Management LP now owns 21,180 shares of the communications equipment provider’s stock worth $176,000 after buying an additional 877 shares in the last quarter. Catalyst Funds Management Pty Ltd boosted its holdings in shares of ADTRAN by 6.0% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 22,800 shares of the communications equipment provider’s stock worth $190,000 after buying an additional 1,300 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of ADTRAN by 11.4% during the 4th quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider’s stock worth $122,000 after buying an additional 1,501 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of ADTRAN by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,821 shares of the communications equipment provider’s stock worth $373,000 after buying an additional 1,605 shares in the last quarter. Finally, Tudor Investment Corp ET AL boosted its holdings in shares of ADTRAN by 0.6% during the 4th quarter. Tudor Investment Corp ET AL now owns 278,489 shares of the communications equipment provider’s stock worth $2,320,000 after buying an additional 1,670 shares in the last quarter. 80.56% of the stock is currently owned by 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.