ADTRAN Holdings, Inc. (NASDAQ:ADTN) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) have earned an average recommendation of “Moderate Buy” from the five research firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $7.17.

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

Institutional Investors Weigh In On ADTRAN

A number of large investors have recently made changes to their positions in ADTN. William Blair Investment Management LLC raised its holdings in shares of ADTRAN by 22.5% during the first quarter. William Blair Investment Management LLC now owns 4,456,067 shares of the communications equipment provider’s stock valued at $24,241,000 after acquiring an additional 817,762 shares in the last quarter. Renaissance Technologies LLC increased its position in ADTRAN by 26.4% during the 2nd quarter. Renaissance Technologies LLC now owns 680,340 shares of the communications equipment provider’s stock valued at $3,579,000 after purchasing an additional 142,100 shares during the period. Paradigm Capital Management Inc. NY raised its holdings in ADTRAN by 173.1% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,447,100 shares of the communications equipment provider’s stock worth $12,872,000 after purchasing an additional 1,551,000 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of ADTRAN in the 2nd quarter worth about $681,000. Finally, Inspire Investing LLC bought a new stake in shares of ADTRAN during the 1st quarter valued at about $356,000. 80.56% of the stock is currently owned by institutional investors.

ADTRAN Trading Up 1.8 %

ADTN stock opened at $6.18 on Wednesday. The company has a market capitalization of $489.64 million, a PE ratio of -0.87 and a beta of 1.20. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.31 and a current ratio of 2.31. ADTRAN has a one year low of $4.34 and a one year high of $7.66. The company’s 50 day moving average price is $5.78 and its two-hundred day moving average price is $5.48.

ADTRAN (NASDAQ:ADTN) last issued its earnings results on Monday, August 5th. The communications equipment provider reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.14). ADTRAN had a negative return on equity of 29.26% and a negative net margin of 58.64%. The business had revenue of $225.99 million during the quarter, compared to analysts’ expectations of $225.95 million. As a group, analysts predict that ADTRAN will post -0.41 earnings per share for the current fiscal 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.