ADTRAN Holdings, Inc. (NASDAQ:ADTN) Receives $14.67 Consensus Price Target from Analysts

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has been given a consensus recommendation of “Hold” by the seven brokerages that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $14.6667.

A number of equities research analysts recently commented on the company. B. Riley Financial reaffirmed a “buy” rating and set a $21.00 price objective (down from $23.00) on shares of ADTRAN in a research note on Thursday, July 23rd. Rosenblatt Securities dropped their price objective on shares of ADTRAN from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Craig Hallum set a $12.00 target price on ADTRAN in a research note on Wednesday, August 5th. Wall Street Zen cut shares of ADTRAN from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Needham & Company LLC dropped their price objective on ADTRAN from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, July 23rd.

ADTRAN Stock Up 3.0%

Shares of ADTN opened at $8.65 on Tuesday. The business’s fifty day moving average price is $11.72 and its two-hundred day moving average price is $12.67. The firm has a market capitalization of $704.80 million, a price-to-earnings ratio of -30.89 and a beta of 1.47. ADTRAN has a 52 week low of $7.11 and a 52 week high of $19.98. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.19 and a current ratio of 1.79.

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

Institutional Investors Weigh In On ADTRAN

Hedge funds have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership lifted its stake in shares of ADTRAN by 60.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 455,647 shares of the communications equipment provider’s stock worth $5,732,000 after buying an additional 171,145 shares during the last quarter. Heartland Advisors Inc. acquired a new stake in shares of ADTRAN in the first quarter valued at approximately $9,435,000. Sei Investments Co. lifted its position in shares of ADTRAN by 162.0% during the 1st quarter. Sei Investments Co. now owns 1,105,110 shares of the communications equipment provider’s stock valued at $13,902,000 after acquiring an additional 683,262 shares during the period. Dimensional Fund Advisors LP lifted its position in ADTRAN by 50.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,337,028 shares of the communications equipment provider’s stock worth $16,817,000 after purchasing an additional 448,848 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of ADTRAN by 100.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 917,754 shares of the communications equipment provider’s stock worth $12,757,000 after acquiring an additional 459,802 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

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.