ADTRAN (NASDAQ:ADTN) Cut to Sell at StockNews.com

StockNews.com downgraded shares of ADTRAN (NASDAQ:ADTN) from a hold rating to a sell rating in a report issued on Thursday morning.

A number of other analysts have also recently commented on the stock. Needham & Company LLC reiterated a buy rating and issued a $8.00 target price on shares of ADTRAN in a research note on Thursday, August 8th. Rosenblatt Securities reiterated a neutral rating and issued a $6.00 target price on shares of ADTRAN in a research note on Wednesday, August 7th. Northland Securities upgraded shares of ADTRAN from a market perform rating to an outperform rating and set a $7.50 target price for the company in a research note on Wednesday, May 8th. Finally, Northland Capmk upgraded shares of ADTRAN from a hold rating to a strong-buy rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $7.17.

ADTRAN Stock Down 2.7 %

NASDAQ:ADTN opened at $5.05 on Thursday. ADTRAN has a fifty-two week low of $4.34 and a fifty-two week high of $8.56. The stock has a market capitalization of $399.54 million, a P/E ratio of -0.73 and a beta of 1.19. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.31 and a current ratio of 2.31. The company’s 50-day simple moving average is $5.55 and its 200-day simple moving average is $5.39.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Monday, August 5th. The communications equipment provider reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.14). ADTRAN had a negative net margin of 58.64% and a negative return on equity of 29.26%. The firm had revenue of $225.99 million during the quarter, compared to the consensus estimate of $225.95 million. On average, equities analysts anticipate that ADTRAN will post -0.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ADTRAN

Several institutional investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its holdings in 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 acquiring an additional 2,396 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in ADTRAN by 3.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 83,155 shares of the communications equipment provider’s stock worth $453,000 after acquiring an additional 2,764 shares in the last quarter. Victory Capital Management Inc. increased its holdings in ADTRAN by 28.4% in the 4th quarter. Victory Capital Management Inc. now owns 15,041 shares of the communications equipment provider’s stock worth $110,000 after acquiring an additional 3,326 shares in the last quarter. Cape Investment Advisory Inc. purchased a new stake in ADTRAN in the 4th quarter worth $27,000. Finally, Dimensional Fund Advisors LP increased its holdings in ADTRAN by 1.3% in the 2nd 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 in the last quarter. 80.56% of the stock is owned by hedge funds and other 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.