ADTRAN (NASDAQ:ADTN) Upgraded at Argus

ADTRAN (NASDAQ:ADTN) was upgraded by stock analysts at Argus to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other analysts have also commented on the company. Rosenblatt Securities lifted their price target on ADTRAN from $11.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $14.00 price objective on shares of ADTRAN in a research note on Thursday, February 26th. Finally, Wall Street Zen raised shares of ADTRAN from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $15.33.

ADTRAN Price Performance

ADTN stock opened at $10.25 on Wednesday. The firm has a market capitalization of $826.77 million, a PE ratio of -20.10 and a beta of 1.37. The business’s 50 day simple moving average is $9.53 and its 200 day simple moving average is $9.14. ADTRAN has a 1-year low of $6.93 and a 1-year high of $11.10. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 1.50.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings data on Wednesday, February 25th. The communications equipment provider reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. ADTRAN had a positive return on equity of 4.23% and a negative net margin of 4.15%.The firm had revenue of $291.56 million for the quarter, compared to analyst estimates of $281.12 million. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. As a group, research analysts anticipate that ADTRAN will post -0.5 EPS for the current year.

Institutional Trading of ADTRAN

A number of hedge funds have recently made changes to their positions in ADTN. Cape Investment Advisory Inc. bought a new position in ADTRAN during the 2nd quarter valued at about $27,000. State of Alaska Department of Revenue purchased a new stake in ADTRAN in the 3rd quarter worth approximately $36,000. Quarry LP bought a new stake in shares of ADTRAN during the 3rd quarter valued at $36,000. Kestra Advisory Services LLC purchased a new position in shares of ADTRAN in the fourth quarter valued at about $36,000. Finally, ST Germain D J Co. Inc. grew its holdings in ADTRAN by 100.0% during the 4th 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 in the last quarter. 80.56% of the stock is owned by institutional investors.

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.