Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN – Get Free Report) have been assigned a consensus rating of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $18.00.
Several research firms recently weighed in on ADTN. B. Riley Financial reiterated a “buy” rating on shares of ADTRAN in a research report on Friday, May 1st. Wall Street Zen lowered ADTRAN from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 17th. Argus raised ADTRAN to a “hold” rating in a research note on Wednesday, March 4th. Evercore initiated coverage on ADTRAN in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 price objective on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of ADTRAN in a research note on Wednesday, May 6th.
Read Our Latest Research Report on ADTN
ADTRAN Trading Down 3.7%
ADTRAN (NASDAQ:ADTN – Get Free Report) last issued its earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 EPS for the quarter, topping 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 period in the previous year, the firm earned $0.03 EPS. The business’s revenue was up 15.5% on a year-over-year basis. Equities analysts anticipate that ADTRAN will post 0.43 EPS for the current year.
Institutional Trading of ADTRAN
Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP bought a new stake in shares of ADTRAN in the 3rd quarter worth $36,000. Kestra Advisory Services LLC acquired a new position in shares of ADTRAN in the 4th quarter worth $36,000. ST Germain D J Co. Inc. grew 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 worth $43,000 after acquiring an additional 2,500 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of ADTRAN in the 4th quarter worth $47,000. Finally, Freestone Grove Partners LP acquired a new position in shares of ADTRAN in the 4th quarter worth $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.
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