ADTRAN (NASDAQ:ADTN) Rating Increased to Sell at BidaskClub

BidaskClub upgraded shares of ADTRAN (NASDAQ:ADTN) from a strong sell rating to a sell rating in a report published on Friday morning, BidAskClub reports.

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.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings results on Wednesday, April 17th. The communications equipment provider reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $143.79 million for the quarter, compared to analyst estimates of $140.55 million. On average, equities research analysts expect that ADTRAN will post 0.22 earnings per share for the current fiscal year.

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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Analyst Recommendations for ADTRAN (NASDAQ:ADTN)

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