ADTRAN Holdings, Inc. (NASDAQ:ADTN) Receives Average Recommendation of “Hold” from Analysts

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has been assigned a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $18.00.

ADTN has been the topic of several research analyst reports. Wall Street Zen lowered ADTRAN from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 17th. Northland Securities set a $18.00 target price on ADTRAN in a research report on Wednesday, May 6th. Rosenblatt Securities upped their target price on ADTRAN from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Argus upgraded ADTRAN to a “hold” rating in a report on Wednesday, March 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price target on shares of ADTRAN in a report on Wednesday, May 6th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADTN. AQR Capital Management LLC boosted its holdings in ADTRAN by 253.7% in the first quarter. AQR Capital Management LLC now owns 348,478 shares of the communications equipment provider’s stock worth $3,039,000 after acquiring an additional 249,954 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in ADTRAN by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,767 shares of the communications equipment provider’s stock worth $408,000 after acquiring an additional 1,946 shares in the last quarter. Legal & General Group Plc boosted its holdings in ADTRAN by 13.9% in the second quarter. Legal & General Group Plc now owns 113,480 shares of the communications equipment provider’s stock worth $1,018,000 after acquiring an additional 13,821 shares in the last quarter. American Century Companies Inc. boosted its holdings in ADTRAN by 11.2% in the second quarter. American Century Companies Inc. now owns 224,015 shares of the communications equipment provider’s stock worth $2,009,000 after acquiring an additional 22,524 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in ADTRAN by 17.6% in the second quarter. Russell Investments Group Ltd. now owns 88,384 shares of the communications equipment provider’s stock worth $793,000 after acquiring an additional 13,222 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

ADTRAN Stock Up 17.6%

Shares of ADTRAN stock opened at $19.40 on Thursday. ADTRAN has a one year low of $7.11 and a one year high of $19.98. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.77 and a quick ratio of 1.18. The stock’s 50-day moving average is $14.76 and its 200 day moving average is $11.07. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -49.74 and a beta of 1.45.

ADTRAN (NASDAQ:ADTN) last announced its earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 EPS for the quarter, beating the consensus estimate of $0.09 by $0.05. ADTRAN had a positive return on equity of 10.94% and a negative net margin of 3.18%.The company had revenue of $286.09 million for the quarter, compared to analyst estimates of $285.48 million. During the same quarter in the prior year, the company earned $0.03 EPS. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. Equities research analysts anticipate that ADTRAN will post 0.39 EPS for the current year.

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.