ADTRAN (NASDAQ:ADTN) Upgraded by Northland Securities to “Outperform”

Northland Securities upgraded shares of ADTRAN (NASDAQ:ADTN) from a market perform rating to an outperform rating in a report issued on Wednesday morning, Marketbeat.com reports. They currently have $7.50 target price on the communications equipment provider’s stock.

Other analysts have also issued research reports about the company. Needham & Company LLC reissued a buy rating and issued a $8.00 target price on shares of ADTRAN in a research report on Wednesday, April 17th. Rosenblatt Securities decreased their price objective on shares of ADTRAN from $8.00 to $7.50 and set a neutral rating for the company in a research note on Wednesday, February 28th. Finally, StockNews.com upgraded shares of ADTRAN to a sell rating in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $9.75.

ADTRAN Stock Up 1.5 %

Shares of NASDAQ ADTN opened at $5.47 on Wednesday. The firm has a market cap of $432.76 million, a price-to-earnings ratio of -1.71 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 has a 52-week low of $4.34 and a 52-week high of $11.02. The business’s 50 day moving average is $5.21 and its two-hundred day moving average is $6.04.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in ADTRAN during the third quarter worth approximately $387,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of ADTRAN in the 3rd quarter valued at $119,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of ADTRAN by 19.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,185 shares of the communications equipment provider’s stock valued at $125,000 after acquiring an additional 2,500 shares during the period. NewSquare Capital LLC purchased a new stake in ADTRAN during the 3rd quarter worth $189,000. Finally, Jump Financial LLC increased its stake in ADTRAN by 86.9% during the 3rd quarter. Jump Financial LLC now owns 101,346 shares of the communications equipment provider’s stock worth $834,000 after buying an additional 47,119 shares during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.

About ADTRAN

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.