Analysts Set ADTRAN Holdings, Inc. (NASDAQ:ADTN) Target Price at $7.17

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $7.17.

Several equities analysts recently issued reports on ADTN shares. Needham & Company LLC reiterated a “buy” rating and set a $8.00 price target on shares of ADTRAN in a research report on Thursday, August 8th. StockNews.com upgraded shares of ADTRAN from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $6.00 price target on shares of ADTRAN in a research report on Wednesday, August 7th.

ADTRAN Stock Performance

ADTRAN stock opened at $5.78 on Friday. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $457.30 million, a PE ratio of -0.84 and a beta of 1.19. The firm has a fifty day simple moving average of $5.51 and a two-hundred day simple moving average of $5.35. ADTRAN has a twelve month low of $4.34 and a twelve month high of $8.02.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings data on Monday, August 5th. The communications equipment provider reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.14). The firm had revenue of $225.99 million for the quarter, compared to the consensus estimate of $225.95 million. ADTRAN had a negative net margin of 58.64% and a negative return on equity of 29.26%. Research analysts expect that ADTRAN will post -0.41 EPS for the current year.

Institutional Investors Weigh In On ADTRAN

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA grew its holdings in ADTRAN by 3.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 71,403 shares of the communications equipment provider’s stock worth $376,000 after purchasing an additional 2,396 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in ADTRAN by 3.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 83,155 shares of the communications equipment provider’s stock worth $453,000 after purchasing an additional 2,764 shares during the period. Dimensional Fund Advisors LP grew its holdings in ADTRAN by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 279,915 shares of the communications equipment provider’s stock worth $1,472,000 after purchasing an additional 3,638 shares during the period. PEAK6 Investments LLC grew its holdings in ADTRAN by 28.5% in the first quarter. PEAK6 Investments LLC now owns 17,646 shares of the communications equipment provider’s stock worth $96,000 after purchasing an additional 3,911 shares during the period. Finally, Koesten Hirschmann & Crabtree INC. grew its holdings in ADTRAN by 13.9% in the first quarter. Koesten Hirschmann & Crabtree INC. now owns 54,099 shares of the communications equipment provider’s stock worth $294,000 after purchasing an additional 6,587 shares during the period. Hedge funds and other 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.