ADTRAN (ADTN) Cut to Hold at BidaskClub

BidaskClub lowered shares of ADTRAN (NASDAQ:ADTN) from a buy rating to a hold rating in a report issued on Wednesday morning.

Other analysts have also issued research reports about the stock. ValuEngine lowered shares of ADTRAN from a buy rating to a hold rating in a research report on Wednesday, October 17th. Zacks Investment Research raised 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 reduced 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. MKM Partners lifted their price target on shares of ADTRAN from $21.00 to $22.00 in a research report on Thursday, September 13th. Finally, Bank of America raised shares of ADTRAN from an underperform rating to a neutral rating in a research report on Thursday, September 13th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. ADTRAN has a consensus rating of Hold and an average price target of $17.89.

ADTN stock opened at $12.87 on Wednesday. The company has a current ratio of 2.82, a quick ratio of 1.96 and a debt-to-equity ratio of 0.06. ADTRAN has a one year low of $12.54 and a one year high of $23.15.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Tuesday, October 16th. The communications equipment provider reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.17. The firm had revenue of $140.34 million for the quarter, compared to analyst estimates of $146.00 million. ADTRAN had a negative net margin of 3.94% and a negative return on equity of 2.20%. During the same quarter in the previous year, the company earned $0.33 EPS. As a group, equities analysts expect that ADTRAN will post -0.32 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Wednesday, October 31st were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Tuesday, October 30th. ADTRAN’s payout ratio is 40.45%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Alps Advisors Inc. purchased a new stake in ADTRAN in the second quarter valued at approximately $407,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of ADTRAN in the second quarter worth $151,000. Victory Capital Management Inc. grew its stake in shares of ADTRAN by 2.9% in the third quarter. Victory Capital Management Inc. now owns 3,153,118 shares of the communications equipment provider’s stock worth $55,652,000 after acquiring an additional 88,790 shares in the last quarter. Zeke Capital Advisors LLC acquired a new position in shares of ADTRAN in the third quarter worth $267,000. Finally, Heartland Advisors Inc. grew its stake in shares of ADTRAN by 88.8% in the third quarter. Heartland Advisors Inc. now owns 250,846 shares of the communications equipment provider’s stock worth $4,427,000 after acquiring an additional 117,984 shares in the last quarter. 94.25% of the stock is currently owned by institutional investors.

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.

Featured Article: Risk Tolerance

Analyst Recommendations for ADTRAN (NASDAQ:ADTN)

Receive News & Ratings for ADTRAN Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ADTRAN and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply