Several other analysts have also commented on the company. Northland Securities raised their price objective on ADTRAN from $16.00 to $18.00 in a report on Tuesday, December 8th. Jefferies Financial Group raised ADTRAN from a hold rating to a buy rating and lifted their price target for the stock from $11.00 to $16.50 in a research note on Wednesday, November 4th. Finally, Zacks Investment Research lowered ADTRAN from a buy rating to a hold rating and set a $15.00 price target on the stock. in a research note on Tuesday, January 5th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $14.60.
Shares of ADTN opened at $15.73 on Friday. ADTRAN has a 12 month low of $4.80 and a 12 month high of $16.18. The stock’s 50 day moving average is $14.17 and its two-hundred day moving average is $12.04. The firm has a market cap of $754.35 million, a P/E ratio of -46.26 and a beta of 1.40.
ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings data on Saturday, November 7th. The communications equipment provider reported $0.16 EPS for the quarter, beating the consensus estimate of $0.07 by $0.09. ADTRAN had a negative return on equity of 0.30% and a negative net margin of 3.33%. The company had revenue of $133.14 million for the quarter, compared to analyst estimates of $133.90 million. On average, analysts anticipate that ADTRAN will post 0.14 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can grew its stake in ADTRAN by 1,082.9% during the 2nd quarter. Bank of Montreal Can now owns 5,335 shares of the communications equipment provider’s stock worth $59,000 after purchasing an additional 4,884 shares in the last quarter. Two Sigma Advisers LP grew its stake in ADTRAN by 22.7% during the 2nd quarter. Two Sigma Advisers LP now owns 105,000 shares of the communications equipment provider’s stock worth $1,148,000 after purchasing an additional 19,400 shares in the last quarter. Strs Ohio grew its stake in ADTRAN by 6.9% during the 3rd quarter. Strs Ohio now owns 57,700 shares of the communications equipment provider’s stock worth $591,000 after purchasing an additional 3,700 shares in the last quarter. FMR LLC grew its stake in ADTRAN by 9,345,200.0% during the 2nd quarter. FMR LLC now owns 93,453 shares of the communications equipment provider’s stock worth $1,021,000 after purchasing an additional 93,452 shares in the last quarter. Finally, Cigna Investments Inc. New acquired a new position in ADTRAN during the 2nd quarter worth $132,000. 90.09% of the stock is owned by hedge funds and other institutional investors.
ADTRAN, Inc provides networking and communications equipment for service providers, cable/multiple system operators, and distributed enterprises in the United States and internationally. The company operates through Network Solutions, and Services & Support segments. It offers fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; network management and subscriber services control and orchestration software; software defined networking -controlled programmable network elements; fiber to the distribution point units; optical line terminals and transport solutions; optical networking edge aggregation; IP digital subscriber line access multiplexers; cabinet and outside-plant enclosures and services; transceivers, cables, and other miscellaneous materials; and other products, software, and services.
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