ADTRAN (NASDAQ:ADTN) Rating Increased to Buy at Rosenblatt Securities

Rosenblatt Securities upgraded shares of ADTRAN (NASDAQ:ADTN) from a neutral rating to a buy rating in a research note issued to investors on Friday, Marketbeat reports. Rosenblatt Securities currently has $10.00 price objective on the communications equipment provider’s stock, up from their previous price objective of $6.00.

A number of other research analysts have also recently issued reports on ADTN. StockNews.com raised ADTRAN from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Needham & Company LLC reiterated a “buy” rating and set a $8.00 target price on shares of ADTRAN in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

ADTRAN Trading Up 1.1 %

Shares of ADTN opened at $8.17 on Friday. The stock has a fifty day moving average price of $5.97 and a two-hundred day moving average price of $5.59. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.31 and a current ratio of 2.10. ADTRAN has a 52-week low of $4.34 and a 52-week high of $8.26. The company has a market cap of $647.31 million, a price-to-earnings ratio of -1.25 and a beta of 1.20.

Institutional Trading of ADTRAN

Several large investors have recently made changes to their positions in the company. Blue Trust Inc. lifted its position in ADTRAN by 798.7% in the 3rd quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider’s stock valued at $28,000 after acquiring an additional 4,177 shares in the last quarter. Park Avenue Securities LLC bought a new position in shares of ADTRAN during the 3rd quarter worth approximately $65,000. Point72 DIFC Ltd bought a new position in shares of ADTRAN during the 2nd quarter worth approximately $69,000. SG Americas Securities LLC bought a new position in shares of ADTRAN during the 2nd quarter worth approximately $90,000. Finally, Intech Investment Management LLC bought a new position in shares of ADTRAN during the 3rd quarter worth approximately $92,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

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.