Zacks Investment Research upgraded shares of ADTRAN (NASDAQ:ADTN) from a hold rating to a buy rating in a report issued on Tuesday morning. The firm currently has $19.00 target price on the communications equipment provider’s stock.
According to Zacks, “ADTRAN offers a complete portfolio of maintenance, turnkey network implementation, solutions integration and managed services to accelerate time to market, reduce costs and improve customer satisfaction. The company is accelerating the industry’s transition to open, programmable, scalable networks by leveraging the ADTRAN Mosaic Software-Defined Access architecture that combines modern Web-scale technologies with open-source platforms to facilitate rapid innovation in multi-technology, multi-vendor environments. The company expects solid traction in its domestic markets for ultra broadband and Fiber-To-The-Home solutions along with SD access and EPON solutions. ADTRAN has also outperformed the industry in the past six months on an average. However, high technological obsolescence increases its operating costs with continuous investments in R&D efforts, limiting its growth potential to some extent.”
A number of other analysts have also recently weighed in on ADTN. ValuEngine upgraded ADTRAN from a sell rating to a hold rating in a research report on Saturday, July 14th. BidaskClub cut ADTRAN from a buy rating to a hold rating in a research report on Tuesday, October 2nd. MKM Partners upped their price target on ADTRAN from $21.00 to $22.00 in a research report on Thursday, September 13th. Northland Securities cut ADTRAN from an outperform rating to a market perform rating and set a $17.00 price target on the stock. in a research report on Wednesday, July 18th. Finally, Bank of America upgraded ADTRAN from an underperform rating to a neutral rating in a research report on Thursday, September 13th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. ADTRAN currently has an average rating of Hold and a consensus target price of $18.04.
Shares of NASDAQ:ADTN opened at $16.96 on Tuesday. ADTRAN has a fifty-two week low of $13.95 and a fifty-two week high of $25.10. The firm has a market capitalization of $842.60 million, a price-to-earnings ratio of 19.06 and a beta of 0.53. The company has a current ratio of 2.93, a quick ratio of 1.90 and a debt-to-equity ratio of 0.06.
ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings results on Tuesday, July 17th. The communications equipment provider reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.15. ADTRAN had a negative return on equity of 0.56% and a negative net margin of 2.15%. The firm had revenue of $128.05 million for the quarter, compared to analysts’ expectations of $127.80 million. During the same period in the prior year, the business posted $0.26 earnings per share. As a group, research analysts predict that ADTRAN will post -0.44 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in ADTN. SG Americas Securities LLC bought a new stake in shares of ADTRAN during the first quarter worth $122,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of ADTRAN during the second quarter worth $151,000. Xact Kapitalforvaltning AB bought a new stake in shares of ADTRAN during the second quarter worth $168,000. Koch Industries Inc. bought a new stake in shares of ADTRAN during the first quarter worth $236,000. Finally, Raymond James & Associates bought a new stake in shares of ADTRAN during the second quarter worth $272,000. Institutional investors own 95.12% of the company’s stock.
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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