ADTRAN’s (ADTN) Buy Rating Reaffirmed at Needham & Company LLC

ADTRAN (NASDAQ:ADTN)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a note issued to investors on Wednesday, Benzinga reports. They currently have a $8.00 price objective on the communications equipment provider’s stock. Needham & Company LLC’s price target indicates a potential upside of 69.85% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. StockNews.com raised ADTRAN to a “sell” rating in a report on Wednesday, March 6th. Rosenblatt Securities cut their price objective on ADTRAN from $8.00 to $7.50 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.50.

ADTRAN Trading Up 1.7 %

Shares of ADTN stock traded up $0.08 on Wednesday, hitting $4.71. 288,103 shares of the stock traded hands, compared to its average volume of 747,614. The firm’s 50-day moving average price is $5.72 and its two-hundred day moving average price is $6.36. ADTRAN has a twelve month low of $4.61 and a twelve month high of $11.02. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.34 and a current ratio of 2.64. The stock has a market capitalization of $372.66 million, a PE ratio of -1.47 and a beta of 1.13.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings results on Monday, February 26th. The communications equipment provider reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($1.01). ADTRAN had a negative return on equity of 15.65% and a negative net margin of 21.80%. The business had revenue of $225.48 million for the quarter, compared to analysts’ expectations of $232.45 million. As a group, analysts anticipate that ADTRAN will post -0.25 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADTN. Goldman Sachs Group Inc. lifted its holdings in shares of ADTRAN by 10.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 259,176 shares of the communications equipment provider’s stock valued at $1,902,000 after buying an additional 24,905 shares during the period. Sierra Summit Advisors LLC bought a new stake in ADTRAN during the 4th quarter valued at approximately $219,000. Price T Rowe Associates Inc. MD raised its holdings in ADTRAN by 29.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 80,391 shares of the communications equipment provider’s stock valued at $591,000 after acquiring an additional 18,431 shares in the last quarter. GSA Capital Partners LLP raised its holdings in shares of ADTRAN by 253.0% in the 4th quarter. GSA Capital Partners LLP now owns 105,356 shares of the communications equipment provider’s stock worth $773,000 after buying an additional 75,510 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in ADTRAN by 6,481.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 85,620 shares of the communications equipment provider’s stock valued at $628,000 after purchasing an additional 84,319 shares in the last quarter. Institutional investors and hedge funds 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.