ADTRAN’s (ADTN) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of ADTRAN (NASDAQ:ADTN) in a report issued on Thursday,Benzinga reports. They currently have a $20.00 price objective on the communications equipment provider’s stock.

Several other research analysts have also issued reports on ADTN. B. Riley Financial reissued a “buy” rating on shares of ADTRAN in a research report on Friday, May 1st. Needham & Company LLC reduced their price target on ADTRAN from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday. Northland Securities set a $18.00 price objective on ADTRAN in a report on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of ADTRAN in a report on Tuesday, June 30th. Finally, Evercore began coverage on shares of ADTRAN in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.20.

ADTRAN Stock Down 3.0%

Shares of NASDAQ ADTN opened at $9.85 on Thursday. The firm has a fifty day simple moving average of $14.30 and a two-hundred day simple moving average of $12.74. ADTRAN has a 12 month low of $7.11 and a 12 month high of $19.98. The company has a current ratio of 1.77, a quick ratio of 1.18 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $802.28 million, a PE ratio of -25.26 and a beta of 1.44.

ADTRAN (NASDAQ:ADTN) last announced its earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. ADTRAN had a negative net margin of 3.18% and a positive return on equity of 10.94%. The firm had revenue of $286.09 million for the quarter, compared to analyst estimates of $285.48 million. During the same quarter in the previous year, the firm posted $0.03 EPS. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. Equities analysts expect that ADTRAN will post 0.38 earnings per share for the current year.

Institutional Trading of ADTRAN

Several institutional investors have recently bought and sold shares of the company. DNB Asset Management AS increased its stake in ADTRAN by 7.6% during the 4th quarter. DNB Asset Management AS now owns 3,123,679 shares of the communications equipment provider’s stock valued at $27,145,000 after purchasing an additional 219,810 shares in the last quarter. Millennium Management LLC lifted its stake in shares of ADTRAN by 371.2% in the fourth quarter. Millennium Management LLC now owns 2,694,800 shares of the communications equipment provider’s stock worth $23,418,000 after buying an additional 2,122,844 shares in the last quarter. Royce & Associates LP grew its holdings in shares of ADTRAN by 7.7% during the fourth quarter. Royce & Associates LP now owns 2,597,013 shares of the communications equipment provider’s stock valued at $22,568,000 after buying an additional 186,238 shares during the last quarter. State Street Corp grew its holdings in shares of ADTRAN by 4.5% during the fourth quarter. State Street Corp now owns 1,985,890 shares of the communications equipment provider’s stock valued at $17,257,000 after buying an additional 86,382 shares during the last quarter. Finally, Needham Investment Management LLC grew its holdings in shares of ADTRAN by 23.2% during the fourth quarter. Needham Investment Management LLC now owns 1,447,500 shares of the communications equipment provider’s stock valued at $12,579,000 after buying an additional 272,500 shares during the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting ADTRAN

Here are the key news stories impacting ADTRAN this week:

• Positive Sentiment: ADTRAN announced a new senior secured credit facility led by JPMorgan Chase, which should improve liquidity, lower borrowing costs, and give the company more financial flexibility. ADTRAN Strengthens Capital Structure with New Senior Secured Credit Facility
• Positive Sentiment: B. Riley and Rosenblatt both reiterated buy ratings on ADTRAN, signaling that some analysts still see substantial upside from current levels, even though B. Riley trimmed its price target.
• Neutral Sentiment: Needham lowered its price target on ADTRAN but kept a buy rating, which suggests valuation expectations have become more cautious while the longer-term outlook remains constructive.
• Negative Sentiment: A PR Newswire notice says Levi & Korsinsky is investigating whether ADTRAN adequately disclosed risks tied to customer project timing and the impact on revenue and operating results, adding a legal overhang. ADTRAN Holdings Investigation Notice
• Negative Sentiment: Investor concern may also be amplified by reports that the company’s latest preliminary results missed guidance, reinforcing worries about near-term execution and demand visibility.

About ADTRAN

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company’s product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.