BidaskClub Upgrades ADTRAN (ADTN) to Buy

BidaskClub upgraded shares of ADTRAN (NASDAQ:ADTN) from a hold rating to a buy rating in a research note issued to investors on Thursday.

Several other analysts have also issued reports on ADTN. Zacks Investment Research upgraded shares of ADTRAN from a hold rating to a buy rating and set a $19.00 price target on the stock in a research report on Tuesday, October 9th. Needham & Company LLC decreased their price target on shares of ADTRAN from $18.00 to $17.00 and set a buy rating on the stock in a research report on Thursday, October 18th. They noted that the move was a valuation call. ValuEngine lowered shares of ADTRAN from a buy rating to a hold rating in a research report on Wednesday, October 17th. Northland Securities set a $24.00 price target on shares of ADTRAN and gave the stock a buy rating in a research report on Thursday, December 20th. Finally, MKM Partners decreased their price target on shares of ADTRAN to $17.00 and set a buy rating on the stock in a research report on Thursday, December 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $17.50.

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NASDAQ:ADTN opened at $14.37 on Thursday. ADTRAN has a 1 year low of $10.21 and a 1 year high of $19.30. The company has a current ratio of 3.01, a quick ratio of 2.17 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $684.73 million, a P/E ratio of -30.57 and a beta of 1.26.

ADTRAN (NASDAQ:ADTN) last posted its earnings results on Wednesday, January 23rd. The communications equipment provider reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.08). ADTRAN had a negative net margin of 3.34% and a negative return on equity of 4.42%. The firm had revenue of $140.09 million during the quarter, compared to analyst estimates of $134.25 million.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 21st. Shareholders of record on Thursday, February 7th will be given a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, February 6th. This represents a $0.36 annualized dividend and a yield of 2.51%. ADTRAN’s dividend payout ratio is -76.60%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in shares of ADTRAN by 8.3% during the 2nd quarter. BlackRock Inc. now owns 6,934,364 shares of the communications equipment provider’s stock worth $102,976,000 after acquiring an additional 531,092 shares during the period. Legal & General Group Plc lifted its holdings in shares of ADTRAN by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 102,355 shares of the communications equipment provider’s stock worth $1,517,000 after acquiring an additional 4,017 shares during the period. Raymond James & Associates bought a new position in shares of ADTRAN during the 2nd quarter worth about $272,000. First Trust Advisors LP bought a new position in shares of ADTRAN during the 3rd quarter worth about $367,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of ADTRAN by 3.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 849,665 shares of the communications equipment provider’s stock worth $14,993,000 after acquiring an additional 30,167 shares during the period. Institutional investors own 94.59% of the company’s stock.

ADTRAN Company Profile

ADTRAN, Inc provides networking and communications equipment worldwide. The company operates through two segments, Network Solutions and Services & Support. It offers access and aggregation solutions, including network management and subscriber services control and orchestration software within a SD-access architecture; SDN-controlled programmable network elements; fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; fiber to the distribution point optical network units; optical line terminals; optical networking edge aggregation; and IP digital subscriber line access multiplexers.

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