ADTRAN, Inc. (ADTN) Raised to Sell at BidaskClub
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.
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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.
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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