ADTRAN (NASDAQ:ADTN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ADTRAN (NASDAQ:ADTN) from a buy rating to a strong-buy rating in a research note published on Sunday.

Several other research firms have also commented on ADTN. Rosenblatt Securities increased their price target on shares of ADTRAN from $11.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price objective on shares of ADTRAN in a research report on Thursday, February 26th. Finally, Argus upgraded shares of ADTRAN to a “hold” rating in a research note on Wednesday, March 4th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $15.33.

ADTRAN Stock Up 5.5%

ADTRAN stock opened at $10.15 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 1.50. The firm has a market cap of $818.70 million, a P/E ratio of -19.90 and a beta of 1.37. The business has a fifty day moving average of $9.61 and a two-hundred day moving average of $9.18. ADTRAN has a twelve month low of $6.93 and a twelve month high of $11.10.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Wednesday, February 25th. The communications equipment provider reported $0.16 EPS for the quarter, topping the consensus estimate of $0.08 by $0.08. The firm had revenue of $291.56 million during the quarter, compared to analyst estimates of $281.12 million. ADTRAN had a positive return on equity of 4.23% and a negative net margin of 4.15%.ADTRAN’s revenue was up 20.0% on a year-over-year basis. On average, analysts forecast that ADTRAN will post -0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ADTRAN

Several institutional investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp increased its holdings in shares of ADTRAN by 33.9% during the fourth quarter. Mackenzie Financial Corp now owns 361,607 shares of the communications equipment provider’s stock valued at $3,194,000 after acquiring an additional 91,457 shares in the last quarter. XTX Topco Ltd boosted its stake in ADTRAN by 11.8% in the 4th quarter. XTX Topco Ltd now owns 66,690 shares of the communications equipment provider’s stock worth $580,000 after purchasing an additional 7,033 shares in the last quarter. Voloridge Investment Management LLC grew its position in ADTRAN by 685.0% during the 4th quarter. Voloridge Investment Management LLC now owns 146,148 shares of the communications equipment provider’s stock worth $1,270,000 after purchasing an additional 127,530 shares during the last quarter. Tudor Investment Corp ET AL increased its stake in ADTRAN by 5.6% during the 4th quarter. Tudor Investment Corp ET AL now owns 947,508 shares of the communications equipment provider’s stock valued at $8,234,000 after purchasing an additional 50,393 shares in the last quarter. Finally, Twinbeech Capital LP acquired a new position in ADTRAN during the 4th quarter valued at approximately $96,000. Institutional investors and hedge funds 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.