ADTRAN Holdings, Inc. (NASDAQ:ADTN) Receives $7.17 Consensus Target Price from Brokerages

ADTRAN Holdings, Inc. (NASDAQ:ADTN) has received an average rating of “Moderate Buy” from the five analysts that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $7.17.

A number of brokerages recently issued reports on ADTN. Needham & Company LLC reissued a “buy” rating and set a $8.00 price objective on shares of ADTRAN in a report on Thursday, August 8th. StockNews.com raised shares of ADTRAN from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $6.00 price objective on shares of ADTRAN in a research note on Wednesday, August 7th.

Institutional Trading of ADTRAN

Large investors have recently modified their holdings of the business. William Blair Investment Management LLC raised its stake 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 valued at $24,241,000 after purchasing an additional 817,762 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of ADTRAN by 26.4% during the 2nd quarter. Renaissance Technologies LLC now owns 680,340 shares of the communications equipment provider’s stock valued at $3,579,000 after buying an additional 142,100 shares in the last quarter. Paradigm Capital Management Inc. NY lifted its holdings in shares of ADTRAN by 173.1% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,447,100 shares of the communications equipment provider’s stock worth $12,872,000 after acquiring an additional 1,551,000 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in ADTRAN in the second quarter worth $681,000. Finally, Inspire Investing LLC bought a new position in ADTRAN in the first quarter valued at $356,000. Institutional investors own 80.56% of the company’s stock.

ADTRAN Stock Performance

NASDAQ ADTN opened at $6.18 on Wednesday. The firm has a market cap of $489.64 million, a P/E ratio of -0.87 and a beta of 1.20. 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’s 50 day moving average is $5.78 and its 200-day moving average is $5.48. ADTRAN has a 12-month low of $4.34 and a 12-month high of $7.66.

ADTRAN (NASDAQ:ADTN) last posted its earnings results on Monday, August 5th. The communications equipment provider reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.14). ADTRAN had a negative return on equity of 29.26% and a negative net margin of 58.64%. The company had revenue of $225.99 million for the quarter, compared to analysts’ expectations of $225.95 million. Sell-side analysts predict that ADTRAN will post -0.41 earnings per share for the current year.

About ADTRAN

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.