08 Feb CFO Jonathan Cartu Publishes – ADTRAN, Inc. (NASDAQ:ADTN) Receives $11.63 Average Target…
ADTRAN, Inc. (NASDAQ:ADTN) has been assigned an average recommendation of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $11.63.
ADTN has been the subject of several recent research reports. ValuEngine raised shares of ADTRAN from a “hold” rating to a “buy” rating in a research report on Friday, January 24th. Northland Securities reissued a “hold” rating and set a $10.00 target price on shares of ADTRAN in a research report on Thursday, October 10th. Needham & Company LLC reissued a “hold” rating on shares of ADTRAN in a research report on Thursday, October 31st. MKM Partners downgraded shares of ADTRAN from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $17.00 to $11.00 in a research report on Thursday, October 10th. Finally, Zacks Investment Research raised shares of ADTRAN from a “strong sell” rating to a “hold” rating and set a $8.50 target price for the company in a research report on Monday, January 6th.
In other news, SVP Marc Kimpe acquired 3,000 shares of ADTRAN stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $9.02 per share, with a total value of $27,060.00. Following the transaction, the senior vice president now owns 19,155 shares of the company’s stock, valued at approximately $172,778.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Balan Nair acquired 10,000 shares of ADTRAN stock in a transaction on Thursday, November 7th. The stock was purchased at an average cost of $9.19 per share, with a total value of $91,900.00. Following the completion of the transaction, the director now directly owns 49,505 shares in the company, valued at approximately $454,950.95. The disclosure for this purchase can be found here. Insiders own 2.52% of the company’s stock.
A number of hedge funds have recently modified their holdings of ADTN. Bank of Montreal Can grew its position in ADTRAN by 757.0% in the 2nd quarter. Bank of Montreal Can now owns 4,499 shares of the communications equipment provider’s stock worth $69,000 after purchasing an additional 3,974 shares in the last quarter. Northern Trust Corp grew its position in ADTRAN by 2.0% in the 2nd quarter. Northern Trust Corp now owns 1,009,188 shares of the communications equipment provider’s stock worth $15,390,000 after purchasing an additional 19,988 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in ADTRAN by 27.6% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 252,977 shares of the communications equipment provider’s stock worth $3,858,000 after purchasing an additional 54,701 shares in the last quarter. BlackRock Inc. grew its position in ADTRAN by 2.6% in the 2nd quarter. BlackRock Inc. now owns 7,383,380 shares of the communications equipment provider’s stock worth $112,597,000 after purchasing an additional 186,051 shares in the last quarter. Finally, Invesco Ltd. grew its position in ADTRAN by 40.6% in the 2nd quarter. Invesco Ltd. now owns 386,598 shares of the communications equipment provider’s stock worth $5,896,000 after purchasing an additional 111,558 shares in the last quarter. 91.23% of the stock is owned by institutional investors and hedge funds.
NASDAQ:ADTN opened at $9.05 on Wednesday. The firm has a 50-day moving average of $9.79 and a 200-day moving average of $10.26. The company has a market cap of $452.92 million, a PE ratio of -8.96, a PEG ratio of 31.57 and a beta of 1.24. ADTRAN has a one year low of $8.09 and a one year high of $17.81.
ADTRAN (NASDAQ:ADTN) last posted its earnings results on Wednesday, October 30th. The communications equipment provider reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The business had revenue of $114.09 million for the quarter, compared to the consensus estimate of $114.00 million. ADTRAN had a negative return on equity of 0.57% and a negative net margin of 8.79%. As a group, equities research analysts predict that ADTRAN will post -0.03 earnings per share for the current year.
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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