ADTRAN, Inc. (ADTN) Rating Lowered to Strong Sell at BidaskClub
ADTRAN, Inc. (NASDAQ:ADTN) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Wednesday.
Several other research analysts have also commented on ADTN. Needham & Company LLC boosted their price objective on shares of ADTRAN from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. Northland Securities restated a “buy” rating on shares of ADTRAN in a research note on Friday, July 21st. Argus upgraded shares of ADTRAN from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Thursday, April 20th. MKM Partners restated a “buy” rating and set a $26.50 price target (down previously from $27.50) on shares of ADTRAN in a research note on Monday, April 24th. Finally, Cowen and Company restated a “market perform” rating and set a $18.00 price target (up previously from $16.00) on shares of ADTRAN in a research note on Saturday, July 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $23.57.
Shares of ADTRAN (ADTN) traded up 0.46% during trading on Wednesday, hitting $21.80. 20,882 shares of the company’s stock were exchanged. The stock has a market cap of $1.04 billion, a P/E ratio of 27.22 and a beta of 0.65. The firm has a 50-day moving average price of $21.80 and a 200-day moving average price of $20.91. ADTRAN has a one year low of $17.55 and a one year high of $24.05.
ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings results on Tuesday, July 18th. The communications equipment provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.19 by $0.11. ADTRAN had a net margin of 5.68% and a return on equity of 8.39%. The business had revenue of $184.67 million during the quarter, compared to analyst estimates of $183.05 million. During the same quarter in the previous year, the business posted $0.21 EPS. Equities research analysts expect that ADTRAN will post $0.81 EPS for the current fiscal year.
In other ADTRAN news, SVP Michael Foliano sold 24,000 shares of the stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $23.77, for a total transaction of $570,480.00. Following the transaction, the senior vice president now directly owns 5,417 shares of the company’s stock, valued at $128,762.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.96% of the company’s stock.
Several large investors have recently modified their holdings of ADTN. Guggenheim Capital LLC boosted its stake in shares of ADTRAN by 124.0% in the fourth quarter. Guggenheim Capital LLC now owns 25,220 shares of the communications equipment provider’s stock worth $563,000 after buying an additional 13,959 shares during the period. Norges Bank acquired a new stake in shares of ADTRAN during the fourth quarter worth approximately $8,783,000. Teachers Advisors LLC boosted its stake in shares of ADTRAN by 5.7% in the fourth quarter. Teachers Advisors LLC now owns 85,426 shares of the communications equipment provider’s stock worth $1,909,000 after buying an additional 4,602 shares during the period. Fox Run Management L.L.C. boosted its stake in shares of ADTRAN by 31.5% in the first quarter. Fox Run Management L.L.C. now owns 26,700 shares of the communications equipment provider’s stock worth $554,000 after buying an additional 6,400 shares during the period. Finally, Louisiana State Employees Retirement System boosted its stake in shares of ADTRAN by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 19,800 shares of the communications equipment provider’s stock worth $411,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 90.07% 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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