ADTRAN (NASDAQ:ADTN) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of ADTRAN (NASDAQ:ADTN) from a buy rating to a hold rating in a report published on Saturday.

Several other analysts have also recently issued reports on ADTN. Evercore set a $11.00 price objective on ADTRAN in a research note on Wednesday, August 5th. Craig Hallum set a $12.00 price target on ADTRAN in a research report on Wednesday, August 5th. Northland Securities set a $15.00 price objective on shares of ADTRAN in a report on Wednesday, August 5th. Zacks Research lowered shares of ADTRAN from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 4th. Finally, B. Riley Financial restated a “buy” rating and issued a $21.00 price target (down from $23.00) on shares of ADTRAN in a research report on Thursday, July 23rd. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $14.67.

ADTRAN Price Performance

Shares of ADTN stock opened at $7.63 on Friday. The firm has a market cap of $621.69 million, a P/E ratio of -27.25 and a beta of 1.47. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.79 and a quick ratio of 1.19. ADTRAN has a 1-year low of $7.11 and a 1-year high of $19.98. The firm has a fifty day moving average of $12.59 and a two-hundred day moving average of $12.72.

ADTRAN (NASDAQ:ADTN) last released its earnings results on Tuesday, August 4th. The communications equipment provider reported $0.04 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $281.15 million during the quarter, compared to the consensus estimate of $290.19 million. ADTRAN’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, research analysts anticipate that ADTRAN will post 0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ADTRAN

Several large investors have recently added to or reduced their stakes in the stock. Persistent Asset Partners Ltd bought a new stake in ADTRAN in the second quarter valued at $28,000. Quarry LP bought a new position in shares of ADTRAN during the third quarter worth about $36,000. Kestra Advisory Services LLC bought a new position in shares of ADTRAN during the fourth quarter worth about $36,000. ST Germain D J Co. Inc. increased its holdings in shares of ADTRAN by 100.0% in the 4th quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider’s stock worth $43,000 after acquiring an additional 2,500 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in ADTRAN in the 4th quarter valued at about $47,000. 80.56% of the stock is owned by institutional investors and hedge funds.

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.