ADTRAN’s (ADTN) “Buy” Rating Reaffirmed at Needham & Company LLC

ADTRAN (NASDAQ:ADTN)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research note issued on Wednesday, Benzinga reports. They currently have a $8.00 price target on the communications equipment provider’s stock. Needham & Company LLC’s target price suggests a potential upside of 69.13% from the company’s current price.

ADTN has been the topic of a number of other research reports. Rosenblatt Securities lowered their price target on shares of ADTRAN from $8.00 to $7.50 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. StockNews.com raised shares of ADTRAN to a “sell” rating in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $10.50.

ADTRAN Price Performance

Shares of NASDAQ ADTN opened at $4.73 on Wednesday. ADTRAN has a twelve month low of $4.59 and a twelve month high of $11.02. The stock’s 50 day moving average price is $5.65 and its 200-day moving average price is $6.34. The company has a market capitalization of $374.22 million, a PE ratio of -1.48 and a beta of 1.13. The company has a quick ratio of 1.34, a current ratio of 2.64 and a debt-to-equity ratio of 0.33.

ADTRAN (NASDAQ:ADTN) last announced its earnings results on Monday, February 26th. The communications equipment provider reported ($1.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($1.01). ADTRAN had a negative return on equity of 15.65% and a negative net margin of 21.80%. The business had revenue of $225.48 million during the quarter, compared to analysts’ expectations of $232.45 million. On average, equities analysts anticipate that ADTRAN will post -0.25 EPS for the current year.

Institutional Investors Weigh In On ADTRAN

A number of hedge funds and other institutional investors have recently bought and sold shares of ADTN. Cape Investment Advisory Inc. bought a new stake in ADTRAN during the 4th quarter valued at $27,000. FMR LLC raised its holdings in ADTRAN by 41.3% during the 2nd quarter. FMR LLC now owns 1,965 shares of the communications equipment provider’s stock valued at $35,000 after acquiring an additional 574 shares during the period. Tower Research Capital LLC TRC raised its holdings in ADTRAN by 165.6% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,223 shares of the communications equipment provider’s stock valued at $35,000 after acquiring an additional 1,386 shares during the period. US Bancorp DE raised its holdings in ADTRAN by 328.0% during the 2nd quarter. US Bancorp DE now owns 3,835 shares of the communications equipment provider’s stock valued at $40,000 after acquiring an additional 2,939 shares during the period. Finally, Macquarie Group Ltd. bought a new stake in ADTRAN during the 3rd quarter valued at $46,000. Institutional investors own 80.56% of the company’s stock.

ADTRAN Company Profile

ADTRAN Holdings, Inc, through its subsidiaries, provides networking and communications platforms, software, systems, and services in the United States, Germany, the United Kingdom, and internationally. It operates through two segments, Network Solutions, and Services & Support. It offers residential gateways; ethernet passive optical network ONUs; gigabit passive optical network/XGS-PON ONTs; traditional SSE, routers, and switches; edge cloud; carrier ethernet network interface devices; Optical Line Terminals; Packet Aggregation, Copper Access, and Oscilloquartz; optical transport and engine solutions; infrastructure monitoring solution; and training, professional, software, and managed services.