ADTRAN (NASDAQ:ADTN) Given New $10.00 Price Target at Northland Securities

ADTRAN (NASDAQ:ADTN) had its price objective upped by Northland Securities from $9.00 to $10.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the communications equipment provider’s stock.

ADTN has been the subject of a number of other research reports. Needham & Company LLC boosted their price target on shares of ADTRAN from $8.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, November 8th. StockNews.com upgraded shares of ADTRAN from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Rosenblatt Securities upgraded shares of ADTRAN from a “neutral” rating to a “buy” rating and upped their target price for the stock from $6.00 to $10.00 in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $10.33.

ADTRAN Trading Up 3.3 %

Shares of ADTRAN stock opened at $8.39 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10. ADTRAN has a 52 week low of $4.34 and a 52 week high of $9.21. The stock has a 50 day moving average price of $7.52 and a two-hundred day moving average price of $6.20. The stock has a market capitalization of $665.38 million, a PE ratio of -1.29 and a beta of 1.29.

Hedge Funds Weigh In On ADTRAN

Several large investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA boosted its stake in shares of ADTRAN by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,403 shares of the communications equipment provider’s stock worth $376,000 after buying an additional 2,396 shares during the last quarter. Inspire Investing LLC lifted its holdings in ADTRAN by 5.1% during the third quarter. Inspire Investing LLC now owns 69,640 shares of the communications equipment provider’s stock worth $413,000 after acquiring an additional 3,387 shares during the period. Dimensional Fund Advisors LP lifted its holdings in ADTRAN by 1.3% during the second quarter. Dimensional Fund Advisors LP now owns 279,915 shares of the communications equipment provider’s stock worth $1,472,000 after acquiring an additional 3,638 shares during the period. Blue Trust Inc. boosted its position in ADTRAN by 798.7% in the third quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider’s stock worth $28,000 after purchasing an additional 4,177 shares during the last quarter. Finally, Versor Investments LP grew its stake in ADTRAN by 36.5% in the 2nd quarter. Versor Investments LP now owns 30,300 shares of the communications equipment provider’s stock valued at $159,000 after purchasing an additional 8,100 shares during the period. 80.56% of the stock is currently owned by institutional investors.

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.