ADTRAN (NASDAQ:ADTN) Upgraded to “Hold” at Argus

Argus upgraded shares of ADTRAN (NASDAQ:ADTN) to a hold rating in a report published on Wednesday morning,Zacks.com reports.

Several other brokerages have also recently issued reports on ADTN. Wall Street Zen upgraded shares of ADTRAN from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Rosenblatt Securities raised their price target on ADTRAN from $11.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $14.00 price objective on shares of ADTRAN in a research report on Thursday, February 26th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, ADTRAN has a consensus rating of “Hold” and a consensus price target of $15.33.

ADTRAN Stock Performance

NASDAQ ADTN traded down $0.31 during trading hours on Wednesday, hitting $9.94. The company’s stock had a trading volume of 934,728 shares, compared to its average volume of 1,256,417. ADTRAN has a 12 month low of $6.93 and a 12 month high of $11.10. The company’s 50 day simple moving average is $9.53 and its two-hundred day simple moving average is $9.14. 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 company has a market cap of $801.76 million, a P/E ratio of -19.49 and a beta of 1.37.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings results on Wednesday, February 25th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $281.12 million. The business’s revenue was up 20.0% on a year-over-year basis. As a group, sell-side analysts expect that ADTRAN will post -0.5 EPS for the current fiscal year.

Institutional Trading of ADTRAN

Several large investors have recently bought and sold shares of the stock. Franklin Resources Inc. grew its holdings in shares of ADTRAN by 1.6% during the fourth quarter. Franklin Resources Inc. now owns 79,692 shares of the communications equipment provider’s stock valued at $693,000 after buying an additional 1,263 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in ADTRAN by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,767 shares of the communications equipment provider’s stock valued at $408,000 after purchasing an additional 1,946 shares during the last quarter. Occudo Quantitative Strategies LP increased its holdings in shares of ADTRAN by 3.2% in the third quarter. Occudo Quantitative Strategies LP now owns 65,702 shares of the communications equipment provider’s stock valued at $616,000 after purchasing an additional 2,016 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of ADTRAN by 1.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 187,814 shares of the communications equipment provider’s stock worth $1,632,000 after purchasing an additional 2,068 shares during the period. Finally, ST Germain D J Co. Inc. boosted its position in ADTRAN by 100.0% in 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 buying an additional 2,500 shares during the last quarter. Hedge funds and other 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.