ADTRAN, Inc. (ADTN) Given Average Rating of “Hold” by Analysts

Shares of ADTRAN, Inc. (NASDAQ:ADTN) have received a consensus rating of “Hold” from the twelve analysts that are presently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $17.89.

A number of analysts have recently issued reports on ADTN shares. ValuEngine upgraded ADTRAN from a “sell” rating to a “hold” rating in a research report on Saturday, July 14th. BidaskClub upgraded ADTRAN from a “hold” rating to a “buy” rating in a research report on Wednesday, July 18th. Northland Securities downgraded ADTRAN from an “outperform” rating to a “market perform” rating and set a $17.00 target price for the company. in a research report on Wednesday, July 18th. Bank of America upgraded ADTRAN from an “underperform” rating to a “neutral” rating in a research report on Thursday, September 13th. Finally, MKM Partners boosted their target price on ADTRAN from $21.00 to $22.00 in a research report on Thursday, September 13th.

Shares of ADTN traded down $0.35 during trading hours on Monday, reaching $14.12. 281,984 shares of the company’s stock traded hands, compared to its average volume of 489,516. The company has a market cap of $682.35 million, a PE ratio of 15.87 and a beta of 0.92. The company has a current ratio of 2.82, a quick ratio of 1.96 and a debt-to-equity ratio of 0.06. ADTRAN has a 12 month low of $13.05 and a 12 month high of $23.15.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings results on Tuesday, October 16th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.17. The firm had revenue of $140.34 million during the quarter, compared to the consensus estimate of $146.00 million. ADTRAN had a negative return on equity of 2.20% and a negative net margin of 3.94%. During the same quarter last year, the company posted $0.33 EPS. As a group, analysts predict that ADTRAN will post -0.32 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Wednesday, October 31st will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $0.36 annualized dividend and a dividend yield of 2.55%. ADTRAN’s dividend payout ratio (DPR) is presently 40.45%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of ADTRAN by 2.7% during the third quarter. BlackRock Inc. now owns 7,123,806 shares of the communications equipment provider’s stock valued at $125,733,000 after buying an additional 189,442 shares during the period. Bank of New York Mellon Corp increased its stake in shares of ADTRAN by 3.5% during the third quarter. Bank of New York Mellon Corp now owns 747,970 shares of the communications equipment provider’s stock valued at $13,202,000 after buying an additional 25,549 shares during the period. Heartland Advisors Inc. increased its stake in shares of ADTRAN by 88.8% during the third quarter. Heartland Advisors Inc. now owns 250,846 shares of the communications equipment provider’s stock valued at $4,427,000 after buying an additional 117,984 shares during the period. Chartwell Investment Partners LLC increased its stake in shares of ADTRAN by 5.3% during the third quarter. Chartwell Investment Partners LLC now owns 87,475 shares of the communications equipment provider’s stock valued at $1,544,000 after buying an additional 4,405 shares during the period. Finally, Zeke Capital Advisors LLC purchased a new stake in ADTRAN in the third quarter worth $267,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

About ADTRAN

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.

Recommended Story: Calculate Your Return on Investment (ROI)

Analyst Recommendations for ADTRAN (NASDAQ:ADTN)

Receive News & Ratings for ADTRAN Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ADTRAN and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply