ADTRAN Holdings, Inc. (NASDAQ:ADTN) Receives $12.80 Average PT from Analysts

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $12.80.

ADTN has been the topic of a number of recent analyst reports. Wolfe Research initiated coverage on shares of ADTRAN in a research report on Monday, July 7th. They set a “peer perform” rating on the stock. Wall Street Zen cut shares of ADTRAN from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Finally, B. Riley initiated coverage on shares of ADTRAN in a research report on Thursday, September 18th. They issued a “buy” rating and a $16.00 price objective on the stock.

Institutional Investors Weigh In On ADTRAN

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in ADTRAN by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 7,093,931 shares of the communications equipment provider’s stock valued at $61,859,000 after acquiring an additional 501,512 shares in the last quarter. Royce & Associates LP lifted its position in ADTRAN by 188.5% in the 1st quarter. Royce & Associates LP now owns 1,406,500 shares of the communications equipment provider’s stock valued at $12,265,000 after acquiring an additional 919,000 shares in the last quarter. Invesco Ltd. lifted its position in ADTRAN by 325.4% in the 1st quarter. Invesco Ltd. now owns 1,183,180 shares of the communications equipment provider’s stock valued at $10,317,000 after acquiring an additional 905,056 shares in the last quarter. Westerly Capital Management LLC increased its stake in ADTRAN by 16.8% in the 2nd quarter. Westerly Capital Management LLC now owns 975,000 shares of the communications equipment provider’s stock valued at $8,746,000 after buying an additional 140,000 shares during the last quarter. Finally, SG Capital Management LLC acquired a new stake in ADTRAN in the 2nd quarter valued at $7,601,000. 80.56% of the stock is owned by institutional investors.

ADTRAN Trading Down 1.4%

Shares of NASDAQ ADTN opened at $9.43 on Friday. The company’s fifty day moving average is $9.31 and its 200-day moving average is $8.66. The stock has a market cap of $754.21 million, a price-to-earnings ratio of -7.20 and a beta of 1.39. ADTRAN has a twelve month low of $5.67 and a twelve month high of $12.44. The company has a quick ratio of 1.19, a current ratio of 1.96 and a debt-to-equity ratio of 1.12.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings results on Monday, August 4th. The communications equipment provider reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.27). The firm had revenue of $265.07 million for the quarter, compared to the consensus estimate of $255.57 million. ADTRAN had a negative return on equity of 10.09% and a negative net margin of 11.02%.The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.24) earnings per share. Equities research analysts predict that ADTRAN will post -0.5 EPS for the current year.

ADTRAN Company Profile

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.