ADTRAN (NASDAQ:ADTN) had its target price lowered by analysts at MKM Partners to $17.00 in a research note issued to investors on Friday, The Fly reports. The brokerage presently has a “buy” rating on the communications equipment provider’s stock. MKM Partners’ price target indicates a potential upside of 47.44% from the stock’s current price.
Other equities analysts have also recently issued reports about the company. ValuEngine raised Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. Cowen set a $75.00 price target on Baxter International and gave the stock a “hold” rating in a research note on Monday, April 22nd. BidaskClub raised Westport Fuel Systems from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Finally, Zacks Investment Research cut Horiba from a “hold” rating to a “sell” rating in a research note on Wednesday, May 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $18.80.
NASDAQ:ADTN opened at $11.53 on Friday. The stock has a 50 day moving average price of $15.69. The company has a market cap of $551.24 million, a P/E ratio of 52.41, a price-to-earnings-growth ratio of 10.64 and a beta of 1.25. ADTRAN has a 1-year low of $10.21 and a 1-year high of $19.30.
In other news, VP Roger D. Shannon sold 5,701 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $17.65, for a total transaction of $100,622.65. Following the transaction, the vice president now directly owns 19,009 shares of the company’s stock, valued at $335,508.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.52% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of ADTN. Quantamental Technologies LLC purchased a new position in shares of ADTRAN during the first quarter valued at approximately $52,000. Financial Gravity Wealth Inc. purchased a new position in shares of ADTRAN during the first quarter valued at approximately $59,000. Investors Research Corp purchased a new position in shares of ADTRAN during the first quarter valued at approximately $62,000. Public Employees Retirement System of Ohio increased its stake in shares of ADTRAN by 11.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 6,876 shares of the communications equipment provider’s stock valued at $74,000 after buying an additional 726 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in shares of ADTRAN during the fourth quarter valued at approximately $143,000. 91.30% of the stock is currently owned by hedge funds and other institutional investors.
ADTRAN, Inc provides networking and communications equipment worldwide. The company operates through two segments, Network Solutions and Services & Support. It offers access and aggregation solutions, including network management and subscriber services control and orchestration software within a SD-access architecture; SDN-controlled programmable network elements; fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; fiber to the distribution point optical network units; optical line terminals; optical networking edge aggregation; and IP digital subscriber line access multiplexers.
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