ADTRAN (NASDAQ:ADTN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ADTRAN (NASDAQ:ADTN) from a hold rating to a buy rating in a report released on Saturday morning.

ADTN has been the subject of a number of other research reports. Needham & Company LLC decreased their price target on shares of ADTRAN from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Rosenblatt Securities decreased their price target on shares of ADTRAN from $15.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, ADTRAN has a consensus rating of “Buy” and a consensus price target of $12.00.

ADTRAN Trading Up 7.2%

Shares of ADTN stock opened at $8.46 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.18 and a current ratio of 2.02. The stock has a market capitalization of $676.63 million, a P/E ratio of -4.98 and a beta of 1.30. The company has a 50 day moving average price of $7.90 and a 200 day moving average price of $8.93. ADTRAN has a fifty-two week low of $4.62 and a fifty-two week high of $12.44.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data on Wednesday, May 7th. The communications equipment provider reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.05. ADTRAN had a negative net margin of 14.58% and a negative return on equity of 20.07%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.02 earnings per share. Equities research analysts predict that ADTRAN will post -0.5 EPS for the current fiscal year.

Institutional Trading of ADTRAN

Several institutional investors have recently modified their holdings of ADTN. Schonfeld Strategic Advisors LLC purchased a new stake in shares of ADTRAN during the 4th quarter worth approximately $12,921,000. Royce & Associates LP lifted its position in shares of ADTRAN by 188.5% during the 1st quarter. Royce & Associates LP now owns 1,406,500 shares of the communications equipment provider’s stock worth $12,265,000 after buying an additional 919,000 shares during the last quarter. Invesco Ltd. lifted its position in shares of ADTRAN by 325.4% during the 1st quarter. Invesco Ltd. now owns 1,183,180 shares of the communications equipment provider’s stock worth $10,317,000 after buying an additional 905,056 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of ADTRAN by 591.5% during the 4th quarter. JPMorgan Chase & Co. now owns 863,807 shares of the communications equipment provider’s stock worth $7,196,000 after buying an additional 738,893 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of ADTRAN during the 4th quarter worth approximately $6,095,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

ADTRAN Company Profile

ADTRAN Holdings, Inc, through its subsidiaries, provides networking and communications platforms, software, systems, and services in the United States, Germany, the United Kingdom, and internationally. It operates through two segments, Network Solutions, and Services & Support. It offers residential gateways; ethernet passive optical network ONUs; gigabit passive optical network/XGS-PON ONTs; traditional SSE, routers, and switches; edge cloud; carrier ethernet network interface devices; Optical Line Terminals; Packet Aggregation, Copper Access, and Oscilloquartz; optical transport and engine solutions; infrastructure monitoring solution; and training, professional, software, and managed services.