Analysts Set ADTRAN Holdings, Inc. (NASDAQ:ADTN) PT at $7.17

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has been assigned an average rating of “Moderate Buy” from the five brokerages that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $7.17.

ADTN has been the topic of a number of recent analyst reports. StockNews.com raised ADTRAN from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Needham & Company LLC reissued a “buy” rating and issued a $8.00 price target on shares of ADTRAN in a research note on Thursday, August 8th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $6.00 price objective on shares of ADTRAN in a research report on Wednesday, August 7th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA boosted its stake in ADTRAN by 3.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 71,403 shares of the communications equipment provider’s stock valued at $376,000 after acquiring an additional 2,396 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in ADTRAN by 3.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 83,155 shares of the communications equipment provider’s stock valued at $453,000 after purchasing an additional 2,764 shares during the period. Inspire Investing LLC increased its position in ADTRAN by 5.1% in the third quarter. Inspire Investing LLC now owns 69,640 shares of the communications equipment provider’s stock worth $413,000 after buying an additional 3,387 shares during the last quarter. Dimensional Fund Advisors LP increased its position in ADTRAN by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 279,915 shares of the communications equipment provider’s stock worth $1,472,000 after buying an additional 3,638 shares during the last quarter. Finally, PEAK6 Investments LLC raised its stake in shares of ADTRAN by 28.5% in the first quarter. PEAK6 Investments LLC now owns 17,646 shares of the communications equipment provider’s stock valued at $96,000 after buying an additional 3,911 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

ADTRAN Stock Up 1.7 %

Shares of NASDAQ ADTN opened at $6.18 on Wednesday. ADTRAN has a 1 year low of $4.34 and a 1 year high of $7.66. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.31 and a quick ratio of 1.31. The firm has a market cap of $489.64 million, a PE ratio of -0.87 and a beta of 1.19. The company has a 50 day simple moving average of $5.78 and a 200 day simple moving average of $5.48.

ADTRAN (NASDAQ:ADTN) last announced its earnings results on Monday, August 5th. The communications equipment provider reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.14). The company had revenue of $225.99 million for the quarter, compared to analyst estimates of $225.95 million. ADTRAN had a negative return on equity of 29.26% and a negative net margin of 58.64%. On average, research analysts forecast that ADTRAN will post -0.41 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.