ADTRAN (NASDAQ:ADTN) Hits New 1-Year High – Should You Buy?

ADTRAN Holdings, Inc. (NASDAQ:ADTN) shares hit a new 52-week high during trading on Monday . The stock traded as high as $13.17 and last traded at $13.0080, with a volume of 181579 shares traded. The stock had previously closed at $12.88.

Wall Street Analyst Weigh In

ADTN has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $14.00 target price on shares of ADTRAN in a report on Thursday, February 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of ADTRAN in a report on Thursday, April 2nd. Rosenblatt Securities boosted their target price on ADTRAN from $11.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Wall Street Zen downgraded ADTRAN from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 21st. Finally, Argus raised ADTRAN to a “hold” rating in a report on Wednesday, March 4th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $15.33.

ADTRAN Stock Up 2.2%

The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.16 and a current ratio of 1.76. The firm’s 50-day moving average is $10.74 and its two-hundred day moving average is $9.50. The stock has a market cap of $1.07 billion, a P/E ratio of -25.90 and a beta of 1.23.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Thursday, February 26th. The communications equipment provider reported $0.16 earnings per share for the quarter, topping 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 firm had revenue of $291.56 million during the quarter, compared to analysts’ expectations of $281.12 million. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, equities research analysts anticipate that ADTRAN Holdings, Inc. will post -0.5 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Cape Investment Advisory Inc. bought a new position in ADTRAN in the 2nd quarter worth approximately $27,000. State of Alaska Department of Revenue bought a new position in ADTRAN in the 3rd quarter worth approximately $36,000. Quarry LP bought a new position in ADTRAN in the 3rd quarter worth approximately $36,000. Kestra Advisory Services LLC bought a new position in ADTRAN in the 4th quarter worth approximately $36,000. Finally, ST Germain D J Co. Inc. raised its position in ADTRAN by 100.0% in the 4th quarter. ST Germain D J Co. Inc. now owns 5,000 shares of the communications equipment provider’s stock worth $43,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

About ADTRAN

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.