Zacks Investment Research lowered shares of ADTRAN (NASDAQ:ADTN) from a hold rating to a sell rating in a report published on Thursday morning.

According to Zacks, “Shares of ADTRAN underperformed the industry it belongs to in 2017 The stock lost 13.4% against the industry's aprreciation of 24.4%. Adding to its woes, the company recently issued a below-par guidance for the final quarter of  2017. High costs are likely to hurt the company's bottom line in the fourth quarter, as was the case in the third quarter of 2017. The negative sentiment surrounding the stock can be gauged from the fact that the Zacks Consensus Estimate for fourth-quarter earnings has declined 11.7% over the last 90 days. Detailed results should be out later this month. We are, however, impressed by the company's efforts to reward shareholders.”

Several other research analysts also recently weighed in on ADTN. Northland Securities set a $28.00 target price on ADTRAN and gave the stock a buy rating in a research note on Wednesday, October 18th. BidaskClub downgraded ADTRAN from a hold rating to a sell rating in a research note on Tuesday, December 12th. MKM Partners dropped their target price on ADTRAN from $27.00 to $25.00 and set a buy rating on the stock in a research note on Friday, December 29th. Finally, Cowen restated a hold rating and set a $16.00 target price on shares of ADTRAN in a research note on Friday, December 29th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. ADTRAN presently has an average rating of Hold and an average price target of $23.79.

ADTRAN (NASDAQ:ADTN) traded up $0.05 on Thursday, hitting $19.30. The stock had a trading volume of 508,499 shares, compared to its average volume of 403,965. The company has a market cap of $929.29, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 2.80 and a beta of 0.77. The company has a current ratio of 3.36, a quick ratio of 2.43 and a debt-to-equity ratio of 0.05. ADTRAN has a 52-week low of $18.65 and a 52-week high of $25.10.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Tuesday, October 17th. The communications equipment provider reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.13. The firm had revenue of $185.11 million during the quarter, compared to analyst estimates of $185.43 million. ADTRAN had a return on equity of 9.05% and a net margin of 6.05%. research analysts forecast that ADTRAN will post 0.68 earnings per share for the current fiscal year.

In related news, SVP Kevin P. Heering sold 9,809 shares of the business’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $21.60, for a total transaction of $211,874.40. Following the transaction, the senior vice president now directly owns 10,162 shares in the company, valued at approximately $219,499.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Raymond R. Schansman sold 48,056 shares of the business’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $21.70, for a total value of $1,042,815.20. Following the transaction, the senior vice president now owns 11,658 shares in the company, valued at $252,978.60. The disclosure for this sale can be found here. 2.96% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. grew its stake in ADTRAN by 1.5% during the 3rd quarter. Victory Capital Management Inc. now owns 3,890,822 shares of the communications equipment provider’s stock valued at $93,379,000 after purchasing an additional 56,668 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in ADTRAN by 4.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,001,065 shares of the communications equipment provider’s stock valued at $61,972,000 after purchasing an additional 130,835 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in ADTRAN by 1.0% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 2,776,203 shares of the communications equipment provider’s stock valued at $66,629,000 after purchasing an additional 26,778 shares during the last quarter. Renaissance Technologies LLC grew its stake in ADTRAN by 25.4% during the 2nd 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 last quarter. Finally, State Street Corp grew its stake in ADTRAN by 4.3% during the 2nd quarter. State Street Corp now owns 1,332,947 shares of the communications equipment provider’s stock valued at $27,527,000 after purchasing an additional 54,671 shares during the last quarter. Institutional investors and hedge funds own 91.37% of the company’s stock.

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About ADTRAN

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.

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