Rosenblatt Securities Boosts ADTRAN (NASDAQ:ADTN) Price Target to $15.00

ADTRAN (NASDAQ:ADTN) had its target price upped by equities researchers at Rosenblatt Securities from $10.00 to $15.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the communications equipment provider’s stock. Rosenblatt Securities’ price objective would indicate a potential upside of 43.54% from the stock’s current price.

Several other analysts have also recently commented on the company. Craig Hallum assumed coverage on ADTRAN in a report on Wednesday, January 8th. They set a “buy” rating and a $15.00 target price on the stock. StockNews.com raised shares of ADTRAN from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Northland Securities boosted their target price on shares of ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, Needham & Company LLC reissued a “buy” rating and set a $11.00 price target on shares of ADTRAN in a research note on Thursday, January 16th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, ADTRAN presently has an average rating of “Buy” and an average target price of $12.75.

ADTRAN Stock Performance

NASDAQ:ADTN opened at $10.45 on Wednesday. The stock has a market capitalization of $828.79 million, a P/E ratio of -1.61 and a beta of 1.28. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. ADTRAN has a 1 year low of $4.34 and a 1 year high of $10.88. The firm has a 50 day moving average of $8.80 and a 200-day moving average of $6.89.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ADTN. SG Americas Securities LLC boosted its position in shares of ADTRAN by 24.7% in the 4th quarter. SG Americas Securities LLC now owns 35,424 shares of the communications equipment provider’s stock worth $295,000 after purchasing an additional 7,011 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in ADTRAN by 39.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 925,310 shares of the communications equipment provider’s stock valued at $7,708,000 after buying an additional 263,156 shares during the period. JPMorgan Chase & Co. lifted its stake in ADTRAN by 12.1% in the third quarter. JPMorgan Chase & Co. now owns 124,914 shares of the communications equipment provider’s stock valued at $741,000 after buying an additional 13,478 shares during the period. Barclays PLC grew its position in shares of ADTRAN by 11.4% during the 3rd quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider’s stock worth $686,000 after buying an additional 11,880 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of ADTRAN by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,810,112 shares of the communications equipment provider’s stock worth $10,736,000 after buying an additional 63,960 shares during the period. Institutional investors own 80.56% of the company’s stock.

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.