ADTRAN (NASDAQ:ADTN) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of ADTRAN (NASDAQ:ADTN) from a buy rating to a strong-buy rating in a research report report published on Sunday morning.

A number of other research analysts also recently weighed in on the company. Argus raised ADTRAN to a “hold” rating in a research note on Wednesday, March 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price objective on shares of ADTRAN in a research note on Thursday, February 26th. Finally, Rosenblatt Securities upped their price objective on ADTRAN from $11.00 to $16.00 and gave the company a “buy” rating in a report on Friday, February 27th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, ADTRAN has a consensus rating of “Hold” and a consensus price target of $15.33.

ADTRAN Stock Down 4.7%

Shares of NASDAQ:ADTN opened at $9.59 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.76 and a quick ratio of 1.16. The stock has a market cap of $773.53 million, a price-to-earnings ratio of -18.80 and a beta of 1.37. The company has a 50 day moving average of $9.57 and a 200-day moving average of $9.16. ADTRAN has a one year low of $6.93 and a one year high of $11.10.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data on Wednesday, February 25th. The communications equipment provider reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.08. ADTRAN had a negative net margin of 4.15% and a positive return on equity of 4.23%. The business had revenue of $291.56 million for the quarter, compared to analyst estimates of $281.12 million. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. On average, sell-side analysts forecast that ADTRAN will post -0.5 earnings per share for the current year.

Hedge Funds Weigh In On ADTRAN

Hedge funds have recently made changes to their positions in the business. Wolverine Asset Management LLC acquired a new position in ADTRAN during the third quarter worth $2,443,000. SG Capital Management LLC bought a new position in ADTRAN in the second quarter valued at $7,601,000. Los Angeles Capital Management LLC acquired a new stake in ADTRAN in the 2nd quarter valued at $418,000. Hussman Strategic Advisors Inc. acquired a new stake in ADTRAN in the 3rd quarter valued at $1,379,000. Finally, Squarepoint Ops LLC lifted its position in ADTRAN by 56.4% during the 2nd quarter. Squarepoint Ops LLC now owns 630,846 shares of the communications equipment provider’s stock worth $5,659,000 after buying an additional 227,448 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

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.