ADTRAN Holdings, Inc. (NASDAQ:ADTN) Given Average Recommendation of “Hold” by Analysts

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have been given an average recommendation of “Hold” by the six research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $15.3333.

Several research analysts have weighed in on ADTN shares. Rosenblatt Securities upped their price objective on shares of ADTRAN from $11.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Argus upgraded shares of ADTRAN to a “hold” rating in a report on Wednesday, March 4th. Wall Street Zen raised shares of ADTRAN from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price target on shares of ADTRAN in a research report on Thursday, February 26th.

ADTRAN Trading Down 0.7%

Shares of ADTRAN stock opened at $9.94 on Friday. The stock has a market capitalization of $801.76 million, a PE ratio of -19.49 and a beta of 1.37. ADTRAN has a 52 week low of $6.93 and a 52 week high of $11.10. The stock has a 50 day moving average price of $9.70 and a two-hundred day moving average price of $9.20. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.16 and a current ratio of 1.76.

ADTRAN (NASDAQ:ADTN) last issued its earnings results on Wednesday, February 25th. The communications equipment provider reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.08. ADTRAN had a positive return on equity of 4.23% and a negative net margin of 4.15%.The company had revenue of $291.56 million for the quarter, compared to analyst estimates of $281.12 million. The firm’s revenue was up 20.0% compared to the same quarter last year. As a group, equities analysts anticipate that ADTRAN will post -0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. AQR Capital Management LLC boosted its position in shares of ADTRAN by 253.7% during the first quarter. AQR Capital Management LLC now owns 348,478 shares of the communications equipment provider’s stock valued at $3,039,000 after buying an additional 249,954 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in ADTRAN by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,767 shares of the communications equipment provider’s stock valued at $408,000 after acquiring an additional 1,946 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in ADTRAN during the 2nd quarter valued at $418,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in ADTRAN by 65.8% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 277,820 shares of the communications equipment provider’s stock worth $2,492,000 after acquiring an additional 110,230 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in shares of ADTRAN by 19.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 19,531 shares of the communications equipment provider’s stock worth $175,000 after acquiring an additional 3,217 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

ADTRAN Company Profile

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.