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

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has been given an average recommendation of “Hold” by the five ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $13.00.

A number of equities research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of ADTRAN in a report on Wednesday, October 8th. Needham & Company LLC reiterated a “buy” rating and set a $12.00 price objective on shares of ADTRAN in a research note on Tuesday, November 25th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $11.00 target price on shares of ADTRAN in a research note on Wednesday, November 5th.

ADTRAN Trading Up 6.6%

Shares of ADTN stock opened at $9.90 on Friday. The firm has a market cap of $793.19 million, a P/E ratio of -9.25 and a beta of 1.35. The company has a 50 day moving average of $8.52 and a 200-day moving average of $8.99. The company has a quick ratio of 1.23, a current ratio of 1.96 and a debt-to-equity ratio of 1.54. ADTRAN has a 12-month low of $6.93 and a 12-month high of $12.44.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings results on Tuesday, November 4th. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $279.44 million during the quarter, compared to the consensus estimate of $274.60 million. ADTRAN had a negative net margin of 8.44% and a negative return on equity of 4.63%. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period last year, the firm earned ($0.05) EPS. Sell-side analysts anticipate that ADTRAN will post -0.5 earnings per share for the current year.

Insider Transactions at ADTRAN

In other news, Director Nikos Theodosopoulos bought 12,859 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The shares were acquired at an average price of $7.81 per share, with a total value of $100,428.79. Following the acquisition, the director owned 52,154 shares of the company’s stock, valued at approximately $407,322.74. The trade was a 32.72% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Timothy P. Santo bought 6,150 shares of the stock in a transaction on Friday, November 28th. The stock was purchased at an average price of $8.02 per share, for a total transaction of $49,323.00. Following the completion of the purchase, the chief financial officer directly owned 26,594 shares in the company, valued at approximately $213,283.88. This represents a 30.08% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 59,937 shares of company stock valued at $449,754. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ADTRAN

Large investors have recently added to or reduced their stakes in the business. Cape Investment Advisory Inc. purchased a new position in ADTRAN during the second quarter worth about $27,000. State of Alaska Department of Revenue purchased a new stake in shares of ADTRAN in the 3rd quarter valued at about $36,000. Quarry LP bought a new stake in shares of ADTRAN during the 3rd quarter valued at about $36,000. New York State Teachers Retirement System purchased a new position in shares of ADTRAN during the second quarter worth about $65,000. Finally, Park Avenue Securities LLC bought a new position in shares of ADTRAN in the second quarter worth approximately $91,000. 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.