ADTRAN (NASDAQ:ADTN) Raised to Buy at Wall Street Zen

ADTRAN (NASDAQ:ADTN) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

ADTN has been the subject of several other research reports. Rosenblatt Securities dropped their price target on shares of ADTRAN from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Needham & Company LLC cut their target price on shares of ADTRAN from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $12.00.

ADTRAN Stock Performance

Shares of ADTN stock opened at $7.89 on Friday. ADTRAN has a one year low of $4.62 and a one year high of $12.44. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.18 and a current ratio of 2.02. The company has a 50 day moving average price of $7.89 and a 200 day moving average price of $8.92. The firm has a market capitalization of $631.04 million, a price-to-earnings ratio of -4.64 and a beta of 1.30.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings results on Wednesday, May 7th. The communications equipment provider reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.05. ADTRAN had a negative net margin of 14.58% and a negative return on equity of 20.07%. During the same quarter last year, the business earned $0.02 earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. Sell-side analysts anticipate that ADTRAN will post -0.5 EPS for the current year.

Hedge Funds Weigh In On ADTRAN

Hedge funds have recently made changes to their positions in the business. Aquatic Capital Management LLC raised its stake in shares of ADTRAN by 1,572.5% in the 4th quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider’s stock valued at $56,000 after acquiring an additional 6,290 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of ADTRAN in the 1st quarter valued at $65,000. Ballentine Partners LLC purchased a new position in shares of ADTRAN in the 1st quarter valued at $94,000. Financial Engines Advisors L.L.C. purchased a new position in shares of ADTRAN in the 1st quarter valued at $106,000. Finally, SIH Partners LLLP acquired a new stake in ADTRAN during the 4th quarter valued at $107,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

About ADTRAN

ADTRAN Holdings, Inc, through its subsidiaries, provides networking and communications platforms, software, systems, and services in the United States, Germany, the United Kingdom, and internationally. It operates through two segments, Network Solutions, and Services & Support. It offers residential gateways; ethernet passive optical network ONUs; gigabit passive optical network/XGS-PON ONTs; traditional SSE, routers, and switches; edge cloud; carrier ethernet network interface devices; Optical Line Terminals; Packet Aggregation, Copper Access, and Oscilloquartz; optical transport and engine solutions; infrastructure monitoring solution; and training, professional, software, and managed services.