ADTRAN Holdings, Inc. (NASDAQ:ADTN) Stock Has Consensus Price Target of $14.67

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have received an average rating of “Hold” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $14.67.

A number of analysts have commented on the company. Evercore set a $11.00 target price on ADTRAN in a report on Wednesday, August 5th. Needham & Company LLC lowered their price target on ADTRAN from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Rosenblatt Securities reduced their price objective on ADTRAN from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. B. Riley Financial reissued a “buy” rating and issued a $21.00 target price (down from $23.00) on shares of ADTRAN in a research report on Thursday, July 23rd. Finally, Northland Securities set a $15.00 target price on shares of ADTRAN in a research note on Wednesday, August 5th.

ADTRAN Trading Down 0.4%

Shares of NASDAQ ADTN opened at $7.04 on Wednesday. The firm’s 50 day moving average price is $7.67 and its 200-day moving average price is $12.03. The company has a market cap of $573.62 million, a PE ratio of -25.14, a P/E/G ratio of 4.33 and a beta of 1.48. ADTRAN has a 52-week low of $6.73 and a 52-week high of $19.98. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.19 and a current ratio of 1.79.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings results on Tuesday, August 4th. The communications equipment provider reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.06). ADTRAN had a negative net margin of 2.29% and a positive return on equity of 14.24%. The firm had revenue of $281.15 million for the quarter, compared to the consensus estimate of $290.19 million. ADTRAN’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts expect that ADTRAN will post 0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC bought a new stake in shares of ADTRAN in the second quarter worth $27,000. Persistent Asset Partners Ltd bought a new position in ADTRAN in the second quarter valued at about $28,000. Swiss National Bank lifted its holdings in ADTRAN by 2.1% in the first quarter. Swiss National Bank now owns 142,600 shares of the communications equipment provider’s stock valued at $1,794,000 after acquiring an additional 2,900 shares during the period. Entropy Technologies LP boosted its position in ADTRAN by 53.6% in the first quarter. Entropy Technologies LP now owns 15,793 shares of the communications equipment provider’s stock worth $199,000 after purchasing an additional 5,510 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its position in ADTRAN by 18.7% in the first quarter. Quantinno Capital Management LP now owns 52,455 shares of the communications equipment provider’s stock worth $660,000 after purchasing an additional 8,281 shares during the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

ADTRAN Company Profile

ADTRAN Holdings, Inc (NASDAQ: ADTN) is a provider of networking and communications equipment, software and services for telecommunications companies, broadband providers, enterprises and government organizations. The company develops solutions that help service providers build and manage high-speed access networks, including fiber, fixed wireless and other broadband technologies.

Its portfolio includes access and aggregation platforms, optical networking systems, routers, switches, Wi-Fi equipment, cloud and network management software, and related professional and support services.