BidaskClub Downgrades ADTRAN (ADTN) to Strong Sell
ADTRAN (NASDAQ:ADTN) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Friday.
Several other equities research analysts have also recently commented on ADTN. Northland Securities set a $28.00 target price on shares of ADTRAN and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Zacks Investment Research raised shares of ADTRAN from a “hold” rating to a “strong-buy” rating and set a $26.00 target price for the company in a research report on Friday, October 20th. MKM Partners dropped their target price on shares of ADTRAN from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, December 29th. Cowen reaffirmed a “hold” rating and issued a $16.00 target price on shares of ADTRAN in a research report on Friday, December 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 target price (down from $26.00) on shares of ADTRAN in a research report on Friday, January 12th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $21.41.
Shares of ADTRAN (ADTN) opened at $16.67 on Friday. The firm has a market cap of $938.92, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 2.83 and a beta of 0.77. The company has a current ratio of 3.36, a quick ratio of 2.43 and a debt-to-equity ratio of 0.05. ADTRAN has a 12-month low of $16.52 and a 12-month high of $25.10.
ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings results on Tuesday, January 16th. The communications equipment provider reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.04. ADTRAN had a net margin of 6.05% and a return on equity of 9.05%. The business had revenue of $126.52 million during the quarter, compared to analysts’ expectations of $125.90 million. equities research analysts expect that ADTRAN will post 0.68 earnings per share for the current fiscal year.
In related news, SVP Kevin P. Heering sold 9,809 shares of the stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $21.60, for a total value of $211,874.40. Following the completion of the transaction, the senior vice president now directly owns 10,162 shares in the company, valued at approximately $219,499.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.96% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of ADTN. Schwab Charles Investment Management Inc. increased its stake in shares of ADTRAN by 6.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 409,976 shares of the communications equipment provider’s stock worth $8,467,000 after acquiring an additional 25,208 shares in the last quarter. Legal & General Group Plc increased its stake in ADTRAN by 8.2% during the 2nd quarter. Legal & General Group Plc now owns 90,946 shares of the communications equipment provider’s stock valued at $1,877,000 after purchasing an additional 6,910 shares in the last quarter. JPMorgan Chase & Co. increased its stake in ADTRAN by 46.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 258,431 shares of the communications equipment provider’s stock valued at $5,336,000 after purchasing an additional 82,134 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in ADTRAN by 18.5% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 160,262 shares of the communications equipment provider’s stock valued at $3,309,000 after purchasing an additional 25,056 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in ADTRAN by 40.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 378,523 shares of the communications equipment provider’s stock valued at $7,817,000 after purchasing an additional 109,316 shares in the last quarter. Institutional investors own 91.37% of the company’s stock.
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ADTRAN Company Profile
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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