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

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have been assigned a consensus rating of “Hold” from the seven brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $14.67.

ADTN has been the topic of several recent research reports. Craig Hallum set a $12.00 price target on shares of ADTRAN in a report on Wednesday, August 5th. B. Riley Financial reiterated a “buy” rating and issued a $21.00 price target (down from $23.00) on shares of ADTRAN in a research report on Thursday, July 23rd. Northland Securities set a $15.00 price objective on shares of ADTRAN in a research note on Wednesday, August 5th. Wall Street Zen cut shares of ADTRAN from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Zacks Research upgraded ADTRAN from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th.

Institutional Investors Weigh In On ADTRAN

A number of large investors have recently bought and sold shares of ADTN. BlackRock Inc. purchased a new position in ADTRAN during the second quarter worth $108,923,000. Dimensional Fund Advisors LP raised its holdings in shares of ADTRAN by 50.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,337,028 shares of the communications equipment provider’s stock worth $16,817,000 after acquiring an additional 448,848 shares during the last quarter. William Blair Investment Management LLC acquired a new position in shares of ADTRAN in the second quarter worth $15,276,000. Sei Investments Co. raised its holdings in shares of ADTRAN by 162.0% in the first quarter. Sei Investments Co. now owns 1,105,110 shares of the communications equipment provider’s stock worth $13,902,000 after acquiring an additional 683,262 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of ADTRAN by 100.4% in the second quarter. Assenagon Asset Management S.A. now owns 917,754 shares of the communications equipment provider’s stock valued at $12,757,000 after acquiring an additional 459,802 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

ADTRAN Trading Down 0.3%

NASDAQ:ADTN opened at $6.43 on Friday. ADTRAN has a 52-week low of $6.28 and a 52-week high of $19.98. The company has a quick ratio of 1.19, a current ratio of 1.79 and a debt-to-equity ratio of 1.69. The stock has a fifty day simple moving average of $7.25 and a 200-day simple moving average of $11.48. The company has a market capitalization of $523.92 million, a PE ratio of -22.96, a price-to-earnings-growth ratio of 3.94 and a beta of 1.48.

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

ADTRAN Company Profile

ADTRAN Holdings, Inc (NASDAQ: ADTN) is a global telecommunications equipment and networking company that provides communications infrastructure for service providers, enterprises and other organizations. The company develops solutions that help network operators deliver broadband, voice, data and cloud-connected services over fiber, copper, wireless and other access technologies.

Its portfolio includes fiber access systems, passive optical networking equipment, broadband access platforms, Ethernet and data networking products, routers, switches, Wi-Fi solutions, fixed wireless access equipment and software for network management and automation.