ADTRAN (NASDAQ:ADTN) Coverage Initiated at Evercore

Stock analysts at Evercore started coverage on shares of ADTRAN (NASDAQ:ADTN) in a research note issued on Tuesday. The firm set an “outperform” rating and a $18.00 price target on the communications equipment provider’s stock. Evercore’s target price points to a potential upside of 20.24% from the stock’s previous close.

Several other analysts also recently commented on the stock. Rosenblatt Securities upped 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. Wall Street Zen downgraded shares of ADTRAN from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 21st. Weiss Ratings restated a “sell (d-)” rating on shares of ADTRAN in a research report on Thursday, April 2nd. Needham & Company LLC set a $18.00 price objective on shares of ADTRAN and gave the stock a “buy” rating in a research report on Thursday. Finally, Argus upgraded shares of ADTRAN to a “hold” rating in a research report on Wednesday, March 4th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $17.00.

ADTRAN Stock Down 0.8%

ADTN stock opened at $14.97 on Tuesday. The company has a fifty day moving average price of $11.17 and a 200 day moving average price of $9.65. ADTRAN has a 12 month low of $7.06 and a 12 month high of $15.25. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -29.35 and a beta of 1.23. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.76 and a quick ratio of 1.16.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Thursday, February 26th. The communications equipment provider reported $0.16 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $281.12 million. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. Sell-side analysts expect that ADTRAN will post -0.5 earnings per share for the current year.

Hedge Funds Weigh In On ADTRAN

Large investors have recently made changes to their positions in the stock. Cape Investment Advisory Inc. purchased a new position in shares of ADTRAN in the 2nd quarter valued at about $27,000. Quarry LP purchased a new position in shares of ADTRAN in the 3rd quarter valued at about $36,000. State of Alaska Department of Revenue purchased a new position in shares of ADTRAN in the 3rd quarter valued at about $36,000. Kestra Advisory Services LLC purchased a new position in shares of ADTRAN in the 4th quarter valued at about $36,000. Finally, ST Germain D J Co. Inc. increased its holdings in shares of ADTRAN by 100.0% in 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 purchasing an additional 2,500 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

About ADTRAN

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.