Brokerages Set ADTRAN Holdings, Inc. (NASDAQ:ADTN) Price Target at $12.00

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $12.00.

ADTN has been the topic of several recent research reports. Needham & Company LLC cut their target price on shares of ADTRAN from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Wolfe Research initiated coverage on shares of ADTRAN in a research note on Monday, July 7th. They set a “peer perform” rating on the stock. Finally, Wall Street Zen downgraded shares of ADTRAN from a “buy” rating to a “hold” rating in a research note on Saturday.

Institutional Investors Weigh In On ADTRAN

Large investors have recently modified their holdings of the company. Cape Investment Advisory Inc. purchased a new stake in shares of ADTRAN in the 2nd quarter valued at approximately $27,000. Aquatic Capital Management LLC increased its position in shares of ADTRAN by 1,572.5% in the 4th quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider’s stock valued at $56,000 after purchasing an additional 6,290 shares during the last quarter. New York State Teachers Retirement System purchased a new stake in shares of ADTRAN in the 2nd quarter valued at approximately $65,000. FNY Investment Advisers LLC purchased a new stake in shares of ADTRAN in the 1st quarter valued at approximately $65,000. Finally, Park Avenue Securities LLC purchased a new stake in shares of ADTRAN in the 2nd quarter valued at approximately $91,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

ADTRAN Stock Performance

Shares of ADTN stock opened at $9.38 on Tuesday. ADTRAN has a one year low of $4.93 and a one year high of $12.44. The firm’s 50 day moving average price is $9.13 and its 200-day moving average price is $8.74. The firm has a market cap of $750.21 million, a P/E ratio of -7.16 and a beta of 1.39. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.19 and a current ratio of 1.96.

ADTRAN (NASDAQ:ADTN) last announced its earnings results on Monday, August 4th. The communications equipment provider reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.27). ADTRAN had a negative return on equity of 10.09% and a negative net margin of 11.02%.The business had revenue of $265.07 million for the quarter, compared to analysts’ expectations of $255.57 million. During the same period in the previous year, the company earned ($0.24) earnings per share. ADTRAN’s quarterly revenue was up 17.3% on a year-over-year basis. As a group, equities research analysts predict that ADTRAN will post -0.5 EPS for the current year.

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.