ADTRAN (NASDAQ:ADTN) Stock Rating Lowered by Wall Street Zen

ADTRAN (NASDAQ:ADTN) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

Several other equities research analysts also recently issued reports on ADTN. Needham & Company LLC lowered their price objective on shares of ADTRAN from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. B. Riley Financial restated a “buy” rating and set a $21.00 target price (down from $23.00) on shares of ADTRAN in a report on Thursday, July 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ADTRAN in a research report on Tuesday, June 30th. Northland Securities set a $18.00 price target on shares of ADTRAN in a research note on Wednesday, May 6th. Finally, Rosenblatt Securities restated a “buy” rating and set a $20.00 price objective on shares of ADTRAN in a research note on Thursday, July 23rd. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.20.

ADTRAN Stock Down 7.5%

NASDAQ ADTN opened at $8.33 on Tuesday. The stock has a fifty day moving average of $13.96 and a 200-day moving average of $12.77. The stock has a market capitalization of $678.48 million, a P/E ratio of -21.36 and a beta of 1.44. ADTRAN has a 52 week low of $7.11 and a 52 week high of $19.98. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.18 and a current ratio of 1.77.

ADTRAN (NASDAQ:ADTN) last issued its earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. ADTRAN had a negative net margin of 3.18% and a positive return on equity of 10.94%. The company had revenue of $286.09 million for the quarter, compared to analyst estimates of $285.48 million. During the same quarter last year, the firm earned $0.03 EPS. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, equities research analysts forecast that ADTRAN will post 0.23 EPS for the current year.

Hedge Funds Weigh In On ADTRAN

A number of hedge funds and other institutional investors have recently bought and sold shares of ADTN. Quarry LP acquired a new position in ADTRAN during the third quarter worth approximately $36,000. Kestra Advisory Services LLC acquired a new stake in shares of ADTRAN in the fourth quarter valued at approximately $36,000. ST Germain D J Co. Inc. boosted its stake in shares of 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 worth $43,000 after acquiring an additional 2,500 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of ADTRAN during the 4th quarter worth approximately $47,000. Finally, Freestone Grove Partners LP bought a new position in shares of ADTRAN during the 4th quarter worth approximately $87,000. 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.