ADTRAN Holdings, Inc. (NASDAQ:ADTN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has been assigned an average rating of “Moderate Buy” from the five analysts that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $7.67.

A number of analysts have recently issued reports on ADTN shares. StockNews.com upgraded shares of ADTRAN from a “sell” rating to a “hold” rating in a research note on Monday, June 10th. Needham & Company LLC reiterated a “buy” rating and set a $8.00 price objective on shares of ADTRAN in a research note on Monday, May 20th. Northland Capmk raised shares of ADTRAN from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Finally, Northland Securities raised shares of ADTRAN from a “market perform” rating to an “outperform” rating and set a $7.50 price target for the company in a research report on Wednesday, May 8th.

ADTRAN Trading Down 0.2 %

ADTN opened at $5.12 on Thursday. The firm has a market capitalization of $405.08 million, a P/E ratio of -0.74 and a beta of 1.21. The firm’s 50 day moving average is $5.16 and its 200-day moving average is $5.83. ADTRAN has a 52-week low of $4.34 and a 52-week high of $10.96. The company has a quick ratio of 1.33, a current ratio of 2.46 and a debt-to-equity ratio of 0.73.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Tuesday, May 7th. The communications equipment provider reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.05. The company had revenue of $226.17 million for the quarter, compared to analyst estimates of $223.00 million. ADTRAN had a negative net margin of 51.42% and a negative return on equity of 18.98%. Analysts expect that ADTRAN will post -0.23 EPS for the current fiscal year.

Institutional Trading of ADTRAN

Hedge funds have recently made changes to their positions in the stock. William Blair Investment Management LLC boosted its holdings in ADTRAN by 22.5% in the first quarter. William Blair Investment Management LLC now owns 4,456,067 shares of the communications equipment provider’s stock worth $24,241,000 after purchasing an additional 817,762 shares during the period. First Eagle Investment Management LLC boosted its holdings in ADTRAN by 11.7% in the fourth quarter. First Eagle Investment Management LLC now owns 1,270,307 shares of the communications equipment provider’s stock worth $9,324,000 after purchasing an additional 133,500 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in ADTRAN by 25.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,184,939 shares of the communications equipment provider’s stock worth $6,446,000 after purchasing an additional 237,739 shares during the period. Federated Hermes Inc. acquired a new position in ADTRAN in the fourth quarter worth $8,363,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in ADTRAN by 11.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,020,021 shares of the communications equipment provider’s stock worth $7,487,000 after purchasing an additional 107,593 shares during the period. Institutional investors and hedge funds 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.