Several other brokerages also recently commented on ADTN. MKM Partners cut their target price on ADTRAN to $17.00 and set a buy rating on the stock in a research note on Friday, July 19th. BidaskClub downgraded ADTRAN from a sell rating to a strong sell rating in a research note on Wednesday, July 24th. Zacks Investment Research upgraded ADTRAN from a hold rating to a strong-buy rating and set a $19.00 target price on the stock in a research note on Wednesday, May 22nd. Finally, Cowen reiterated a market perform rating and set a $17.00 target price (up from $14.00) on shares of ADTRAN in a research note on Monday, April 22nd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. ADTRAN has a consensus rating of Hold and a consensus price target of $18.80.
Shares of ADTN opened at $10.78 on Thursday. The company’s fifty day simple moving average is $14.34. ADTRAN has a 12 month low of $10.21 and a 12 month high of $19.30. The stock has a market cap of $523.51 million, a P/E ratio of -22.94, a price-to-earnings-growth ratio of 12.40 and a beta of 1.24.
Several hedge funds have recently added to or reduced their stakes in the company. Chicago Equity Partners LLC purchased a new position in shares of ADTRAN in the 2nd quarter worth $3,000,000. Hillsdale Investment Management Inc. purchased a new position in shares of ADTRAN in the 2nd quarter worth $763,000. Swiss National Bank boosted its stake in shares of ADTRAN by 2.4% in the 2nd quarter. Swiss National Bank now owns 88,900 shares of the communications equipment provider’s stock worth $1,356,000 after buying an additional 2,100 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of ADTRAN in the 2nd quarter worth $735,000. Finally, Stevens Capital Management LP purchased a new position in shares of ADTRAN in the 2nd quarter worth $155,000. Hedge funds and other institutional investors own 91.31% 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.
Further Reading: Market Capitalization and Individual Investors
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