ADTN has been the topic of several other reports. Zacks Investment Research lowered Horiba from a hold rating to a sell rating in a research report on Wednesday, May 22nd. ValuEngine raised Zogenix from a buy rating to a strong-buy rating in a research report on Thursday, June 27th. Cowen set a $75.00 target price on Baxter International and gave the stock a hold rating in a research report on Monday, April 22nd. Finally, MKM Partners increased their target price on Travelers Companies to $140.00 and gave the stock a neutral rating in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $19.40.
Shares of ADTRAN stock opened at $15.86 on Friday. ADTRAN has a fifty-two week low of $10.21 and a fifty-two week high of $19.30. The stock has a market cap of $752.53 million, a price-to-earnings ratio of -33.74, a PEG ratio of 14.51 and a beta of 1.26. The business’s fifty day simple moving average is $15.87.
In related news, VP Roger D. Shannon sold 5,701 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $17.65, for a total value of $100,622.65. Following the transaction, the vice president now directly owns 19,009 shares of the company’s stock, valued at approximately $335,508.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.52% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in ADTN. FIL Ltd raised its holdings in ADTRAN by 2.9% during the first quarter. FIL Ltd now owns 1,482,603 shares of the communications equipment provider’s stock worth $20,311,000 after purchasing an additional 41,500 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new stake in ADTRAN during the first quarter worth approximately $272,000. Tieton Capital Management LLC raised its holdings in ADTRAN by 14.3% during the first quarter. Tieton Capital Management LLC now owns 264,512 shares of the communications equipment provider’s stock worth $3,624,000 after purchasing an additional 33,068 shares in the last quarter. BBT Capital Management LLC bought a new stake in ADTRAN during the first quarter worth approximately $551,000. Finally, Royce & Associates LP raised its holdings in ADTRAN by 2.8% during the first quarter. Royce & Associates LP now owns 407,614 shares of the communications equipment provider’s stock worth $5,584,000 after purchasing an additional 11,220 shares in the last quarter. Hedge funds and other institutional investors own 91.30% of the company’s stock.
ADTRAN Company Profile
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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