ADTRAN (NASDAQ:ADTN) Price Target Raised to $16.00

ADTRAN (NASDAQ:ADTN) had its target price upped by equities researchers at Rosenblatt Securities from $11.00 to $16.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the communications equipment provider’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 59.28% from the stock’s previous close.

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price objective on shares of ADTRAN in a research note on Thursday. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.33.

ADTRAN Price Performance

Shares of ADTRAN stock traded up $0.14 on Friday, hitting $10.05. The company had a trading volume of 976,638 shares, compared to its average volume of 1,240,555. ADTRAN has a 52 week low of $6.93 and a 52 week high of $11.18. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.96 and a quick ratio of 1.23. The company has a market cap of $804.81 million, a PE ratio of -9.39 and a beta of 1.39. The business has a 50-day simple moving average of $9.44 and a 200-day simple moving average of $9.11.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings results on Wednesday, February 25th. The communications equipment provider reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. ADTRAN had a negative net margin of 8.44% and a negative return on equity of 4.63%. The company had revenue of $291.56 million during the quarter, compared to the consensus estimate of $281.12 million. ADTRAN’s revenue was up 20.0% compared to the same quarter last year. Research analysts expect that ADTRAN will post -0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On ADTRAN

Institutional investors and hedge funds have recently bought and sold shares of the business. Cape Investment Advisory Inc. bought a new position in shares of ADTRAN during the 2nd quarter worth about $27,000. State of Alaska Department of Revenue acquired a new position in ADTRAN in the third quarter worth about $36,000. Quarry LP bought a new position in ADTRAN during the third quarter worth about $36,000. Kestra Advisory Services LLC acquired a new stake in ADTRAN in the 4th quarter valued at $36,000. Finally, ST Germain D J Co. Inc. lifted its holdings in shares of ADTRAN by 100.0% during the fourth quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider’s stock valued at $43,000 after acquiring an additional 2,500 shares during the period. Institutional investors own 80.56% of the company’s stock.

ADTRAN Company Profile

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company’s product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.