ADTRAN (ADTN) Shares Gap Up After Analyst Upgrade

Shares of ADTRAN, Inc. (NASDAQ:ADTN) gapped up prior to trading on Monday after BidaskClub upgraded the stock from a sell rating to a hold rating. The stock had previously closed at $18.18, but opened at $16.59. ADTRAN shares last traded at $17.48, with a volume of 33985 shares traded.

Several other equities analysts have also recently weighed in on ADTN. ValuEngine upgraded ADTRAN from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Zacks Investment Research upgraded ADTRAN from a “sell” rating to a “hold” rating in a research report on Tuesday, March 26th. MKM Partners lifted their price target on ADTRAN to $20.00 and gave the company a “buy” rating in a research report on Monday. Cowen reiterated a “market perform” rating and issued a $17.00 price target (up from $14.00) on shares of ADTRAN in a research report on Monday. They noted that the move was a valuation call. Finally, Needham & Company LLC cut ADTRAN from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. ADTRAN presently has an average rating of “Buy” and an average target price of $18.80.

Large investors have recently bought and sold shares of the stock. Financial Gravity Companies Inc. bought a new stake in ADTRAN during the fourth quarter valued at $59,000. Financial Gravity Wealth Inc. bought a new stake in ADTRAN during the first quarter valued at $59,000. Investors Research Corp bought a new stake in ADTRAN during the first quarter valued at $62,000. Public Employees Retirement System of Ohio boosted its stake in ADTRAN by 11.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 6,876 shares of the communications equipment provider’s stock valued at $74,000 after buying an additional 726 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in ADTRAN during the fourth quarter valued at $143,000. 92.91% of the stock is owned by institutional investors.

The company has a market cap of $792.67 million, a PE ratio of -37.51 and a beta of 1.26. The company has a quick ratio of 2.17, a current ratio of 2.66 and a debt-to-equity ratio of 0.06.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings results on Wednesday, April 17th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.19. ADTRAN had a negative return on equity of 0.32% and a negative net margin of 1.40%. The firm had revenue of $143.79 million during the quarter, compared to analyst estimates of $140.55 million.

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Wednesday, May 1st. ADTRAN’s dividend payout ratio (DPR) is currently -76.60%.

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ADTRAN Company Profile (NASDAQ:ADTN)

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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