BidaskClub upgraded shares of ADTRAN, Inc. (NASDAQ:ADTN) from a strong sell rating to a sell rating in a research note issued to investors on Saturday.

Several other research analysts also recently commented on the company. Needham & Company LLC lifted their price objective on ADTRAN from $25.00 to $26.00 and gave the stock a buy rating in a report on Thursday, August 10th. Cowen and Company reiterated a market perform rating and issued a $18.00 price objective (up previously from $16.00) on shares of ADTRAN in a report on Saturday, July 22nd. Northland Securities reiterated a buy rating on shares of ADTRAN in a report on Friday, July 21st. Finally, Zacks Investment Research upgraded ADTRAN from a hold rating to a strong-buy rating and set a $25.00 price objective on the stock in a report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $23.57.

ADTRAN (ADTN) opened at 22.00 on Friday. ADTRAN has a 1-year low of $17.55 and a 1-year high of $24.05. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 27.47 and a beta of 0.65. The firm’s 50-day moving average price is $22.05 and its 200 day moving average price is $20.92.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings data on Tuesday, July 18th. The communications equipment provider reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.11. The firm had revenue of $184.67 million for the quarter, compared to the consensus estimate of $183.05 million. ADTRAN had a return on equity of 8.39% and a net margin of 5.68%. During the same quarter in the previous year, the business earned $0.21 earnings per share. On average, analysts predict that ADTRAN will post $0.85 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “ADTRAN, Inc. (ADTN) Raised to Sell at BidaskClub” was first reported by Watch List News and is the sole property of of Watch List News. If you are viewing this news story on another domain, it was illegally copied and reposted in violation of U.S. and international copyright law. The legal version of this news story can be accessed at https://www.watchlistnews.com/adtran-inc-adtn-raised-to-sell-at-bidaskclub/1528821.html.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Thursday, August 3rd were issued a dividend of $0.09 per share. The ex-dividend date was Tuesday, August 1st. This represents a $0.36 dividend on an annualized basis and a yield of 1.64%. ADTRAN’s dividend payout ratio is presently 43.90%.

In related news, SVP Michael Foliano sold 24,000 shares of the business’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $23.77, for a total transaction of $570,480.00. Following the transaction, the senior vice president now owns 5,417 shares in the company, valued at approximately $128,762.09. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.96% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of ADTRAN by 75,959.4% in the first quarter. BlackRock Inc. now owns 5,930,353 shares of the communications equipment provider’s stock worth $123,054,000 after buying an additional 5,922,556 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of ADTRAN by 6.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,870,230 shares of the communications equipment provider’s stock worth $59,558,000 after buying an additional 172,439 shares in the last quarter. OppenheimerFunds Inc. increased its position in shares of ADTRAN by 35.7% in the first quarter. OppenheimerFunds Inc. now owns 23,037 shares of the communications equipment provider’s stock worth $478,000 after buying an additional 6,061 shares in the last quarter. First Midwest Bank Trust Division increased its position in shares of ADTRAN by 2.6% in the second quarter. First Midwest Bank Trust Division now owns 20,828 shares of the communications equipment provider’s stock worth $430,000 after buying an additional 518 shares in the last quarter. Finally, TFS Capital LLC acquired a new position in shares of ADTRAN during the first quarter worth about $514,000. Institutional investors own 89.48% of the company’s stock.

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.

Analyst Recommendations for ADTRAN (NASDAQ:ADTN)

Receive News & Ratings for ADTRAN Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ADTRAN Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.