ADTRAN (ADTN) Lifted to Hold at BidaskClub

ADTRAN (NASDAQ:ADTN) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Saturday.

A number of other research firms have also recently commented on ADTN. Zacks Investment Research raised shares of ADTRAN from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Tuesday, October 9th. Needham & Company LLC decreased their target price on shares of ADTRAN from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, October 18th. They noted that the move was a valuation call. ValuEngine raised shares of ADTRAN from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. MKM Partners increased their target price 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 analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $17.89.

NASDAQ:ADTN opened at $12.00 on Friday. ADTRAN has a 52 week low of $11.92 and a 52 week high of $23.05. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.82 and a quick ratio of 1.96. The company has a market cap of $597.53 million, a P/E ratio of 13.48 and a beta of 0.87.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Legal & General Group Plc raised its holdings in shares of ADTRAN by 4.1% in the second quarter. Legal & General Group Plc now owns 102,355 shares of the communications equipment provider’s stock worth $1,517,000 after buying an additional 4,017 shares during the last quarter. Chartwell Investment Partners LLC raised its holdings in shares of ADTRAN by 5.3% in the third quarter. Chartwell Investment Partners LLC now owns 87,475 shares of the communications equipment provider’s stock worth $1,544,000 after buying an additional 4,405 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of ADTRAN in the second quarter worth $151,000. Verition Fund Management LLC purchased a new position in shares of ADTRAN in the third quarter worth $195,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of ADTRAN in the third quarter worth $196,000. 94.67% of the stock is owned by institutional investors and hedge funds.

About ADTRAN

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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