ADTRAN Holdings, Inc. (NASDAQ:ADTN) Stock Has Consensus Price Target of $14.67 According to Analysts

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have received an average rating of “Hold” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $14.67.

A number of research analysts have commented on ADTN shares. Craig Hallum set a $12.00 price target on ADTRAN in a research report on Wednesday, August 5th. B. Riley Financial reaffirmed a “buy” rating and issued a $21.00 price target (down from $23.00) on shares of ADTRAN in a research note on Thursday, July 23rd. Rosenblatt Securities decreased their price objective on shares of ADTRAN from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Wall Street Zen lowered shares of ADTRAN from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings cut shares of ADTRAN from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, September 16th.

Institutional Trading of ADTRAN

Hedge funds and other institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue grew its holdings in ADTRAN by 44.3% in the third quarter. State of Alaska Department of Revenue now owns 5,589 shares of the communications equipment provider’s stock worth $38,000 after purchasing an additional 1,717 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of ADTRAN during the second quarter valued at $27,000. Persistent Asset Partners Ltd purchased a new position in shares of ADTRAN in the 2nd quarter worth about $28,000. Swiss National Bank raised its position in shares of ADTRAN by 2.1% in the 1st quarter. Swiss National Bank now owns 142,600 shares of the communications equipment provider’s stock worth $1,794,000 after purchasing an additional 2,900 shares during the last quarter. Finally, Entropy Technologies LP boosted its stake in ADTRAN by 53.6% in the 1st quarter. Entropy Technologies LP now owns 15,793 shares of the communications equipment provider’s stock worth $199,000 after purchasing an additional 5,510 shares in the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

ADTRAN Stock Down 5.9%

Shares of NASDAQ ADTN opened at $6.53 on Friday. The firm’s fifty day moving average is $7.13 and its 200 day moving average is $11.03. ADTRAN has a 52 week low of $6.28 and a 52 week high of $19.98. The company has a quick ratio of 1.19, a current ratio of 1.79 and a debt-to-equity ratio of 1.69. The company has a market cap of $532.06 million, a price-to-earnings ratio of -23.32, a PEG ratio of 4.00 and a beta of 1.48.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings results on Tuesday, August 4th. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). The firm had revenue of $281.15 million during the quarter, compared to the consensus estimate of $290.19 million. ADTRAN had a positive return on equity of 14.24% and a negative net margin of 2.29%. ADTRAN’s revenue was up 6.0% on a year-over-year basis. On average, equities research analysts expect that ADTRAN will post 0.16 earnings per share for the current year.

ADTRAN Company Profile

ADTRAN Holdings, Inc (NASDAQ: ADTN) is a global telecommunications equipment and networking company that provides communications infrastructure for service providers, enterprises and other organizations. The company develops solutions that help network operators deliver broadband, voice, data and cloud-connected services over fiber, copper, wireless and other access technologies.

Its portfolio includes fiber access systems, passive optical networking equipment, broadband access platforms, Ethernet and data networking products, routers, switches, Wi-Fi solutions, fixed wireless access equipment and software for network management and automation.