ADTRAN (NASDAQ:ADTN) Upgraded to Sell at StockNews.com

ADTRAN (NASDAQ:ADTNGet Free Report) was upgraded by analysts at StockNews.com to a “sell” rating in a research note issued on Wednesday.

A number of other research analysts have also recently issued reports on ADTN. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 target price on shares of ADTRAN in a research note on Wednesday, January 17th. Argus cut shares of ADTRAN from a “buy” rating to a “hold” rating in a research report on Monday, November 20th. Finally, Rosenblatt Securities upped their target price on shares of ADTRAN from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Friday, December 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.40.

Check Out Our Latest Report on ADTRAN

ADTRAN Stock Performance

NASDAQ:ADTN opened at $6.70 on Wednesday. ADTRAN has a 1 year low of $4.91 and a 1 year high of $19.20. The firm has a 50 day moving average of $6.75 and a 200-day moving average of $7.44. The company has a current ratio of 2.73, a quick ratio of 1.42 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $527.29 million, a P/E ratio of -5.11 and a beta of 1.28.

ADTRAN (NASDAQ:ADTNGet Free Report) last posted its earnings results on Monday, November 6th. The communications equipment provider reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03). ADTRAN had a negative net margin of 7.93% and a negative return on equity of 2.68%. The firm had revenue of $272.33 million during the quarter, compared to the consensus estimate of $284.80 million. As a group, sell-side analysts anticipate that ADTRAN will post -0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On ADTRAN

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in ADTRAN by 41.3% in the 2nd quarter. FMR LLC now owns 1,965 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 574 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of ADTRAN by 3.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 18,255 shares of the communications equipment provider’s stock worth $337,000 after buying an additional 585 shares during the last quarter. Raymond James & Associates boosted its stake in shares of ADTRAN by 5.3% during the 1st quarter. Raymond James & Associates now owns 19,939 shares of the communications equipment provider’s stock worth $368,000 after buying an additional 995 shares during the last quarter. Vident Investment Advisory LLC boosted its stake in shares of ADTRAN by 6.1% during the 1st quarter. Vident Investment Advisory LLC now owns 19,517 shares of the communications equipment provider’s stock worth $360,000 after buying an additional 1,130 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of ADTRAN by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 117,812 shares of the communications equipment provider’s stock worth $2,066,000 after buying an additional 1,221 shares during the last quarter. 81.88% of the stock is owned by institutional investors and hedge funds.

About ADTRAN

(Get Free Report)

ADTRAN Holdings, Inc, through its subsidiaries, provides end-to-end fiber networking solutions for communications service provider, enterprises, and government customers in the United States, Germany, the United Kingdom, Mexico, and internationally. It operates through two segments, Network Solutions, and Services & Support.

Further Reading

Analyst Recommendations for ADTRAN (NASDAQ:ADTN)

Receive News & Ratings for ADTRAN Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ADTRAN and related companies with MarketBeat.com's FREE daily email newsletter.