BidaskClub downgraded shares of ADTRAN (NASDAQ:ADTN) from a hold rating to a sell rating in a report released on Tuesday morning.

ADTN has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of ADTRAN from a hold rating to a strong-buy rating and set a $26.00 price objective on the stock in a research report on Friday, October 20th. Northland Securities set a $28.00 price objective on shares of ADTRAN and gave the company a buy rating in a research report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. ADTRAN presently has a consensus rating of Hold and a consensus price target of $24.29.

ADTRAN (NASDAQ ADTN) traded up $0.30 during mid-day trading on Tuesday, reaching $21.90. 759,169 shares of the company’s stock were exchanged, compared to its average volume of 301,622. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.36 and a quick ratio of 2.43. ADTRAN has a fifty-two week low of $18.92 and a fifty-two week high of $25.10. The company has a market capitalization of $1,070.00, a PE ratio of 23.48, a price-to-earnings-growth ratio of 2.45 and a beta of 0.77.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Tuesday, October 17th. The communications equipment provider reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.13. ADTRAN had a net margin of 6.05% and a return on equity of 9.05%. The business had revenue of $185.11 million for the quarter, compared to analysts’ expectations of $185.43 million. equities research analysts forecast that ADTRAN will post 0.88 earnings per share for the current fiscal year.

In other news, SVP Kevin P. Heering sold 9,809 shares of the business’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $21.60, for a total transaction of $211,874.40. Following the completion of the sale, the senior vice president now directly owns 10,162 shares of the company’s stock, valued at $219,499.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Raymond R. Schansman sold 48,056 shares of the business’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $21.70, for a total transaction of $1,042,815.20. Following the sale, the senior vice president now directly owns 11,658 shares of the company’s stock, valued at $252,978.60. The disclosure for this sale can be found here. Insiders own 2.96% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ADTN. Renaissance Technologies LLC boosted its stake in shares of ADTRAN by 25.4% during the second quarter. Renaissance Technologies LLC now owns 1,620,128 shares of the communications equipment provider’s stock valued at $33,456,000 after purchasing an additional 328,600 shares during the period. Northern Trust Corp boosted its stake in shares of ADTRAN by 37.1% during the second quarter. Northern Trust Corp now owns 914,639 shares of the communications equipment provider’s stock valued at $18,886,000 after purchasing an additional 247,413 shares during the period. FMR LLC boosted its stake in shares of ADTRAN by 167.6% during the second quarter. FMR LLC now owns 390,801 shares of the communications equipment provider’s stock valued at $8,070,000 after purchasing an additional 244,770 shares during the period. William Blair Investment Management LLC boosted its stake in shares of ADTRAN by 28.7% during the second quarter. William Blair Investment Management LLC now owns 853,029 shares of the communications equipment provider’s stock valued at $17,615,000 after purchasing an additional 190,309 shares during the period. Finally, Prudential Financial Inc. boosted its stake in shares of ADTRAN by 204.4% during the second quarter. Prudential Financial Inc. now owns 278,871 shares of the communications equipment provider’s stock valued at $5,759,000 after purchasing an additional 187,250 shares during the period. 91.37% of the stock is owned by hedge funds and other institutional investors.

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ADTRAN Company Profile

ADTRAN, Inc (ADTRAN) is a provider of networking and communications equipment. The Company’s solutions enable voice, data, video and Internet communications across a range of network infrastructures. It operates through two segments: Network Solutions and Services & Support. Network Solutions includes software and hardware products that enable CSPs and enterprise customers to realize a fully connected world.

Analyst Recommendations for ADTRAN (NASDAQ:ADTN)

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