BidaskClub upgraded shares of ADTRAN (NASDAQ:ADTN) from a strong sell rating to a sell rating in a report published on Friday.
A number of other brokerages also recently weighed in on ADTN. MKM Partners cut their price target on shares of ADTRAN from $27.00 to $25.00 and set a buy rating for the company in a report on Friday, December 29th. Northland Securities restated a buy rating and set a $23.00 price objective on shares of ADTRAN in a report on Thursday, January 18th. Jefferies Group restated a hold rating and set a $17.25 price objective on shares of ADTRAN in a report on Thursday, January 18th. Goldman Sachs Group upgraded ADTRAN from a sell rating to a neutral rating and set a $17.00 price objective on the stock in a report on Monday, January 15th. Finally, Cowen restated a hold rating and set a $16.00 price objective on shares of ADTRAN in a report on Friday, December 29th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $21.41.
Shares of ADTRAN (NASDAQ ADTN) opened at $16.45 on Friday. ADTRAN has a 1-year low of $15.25 and a 1-year high of $25.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.87 and a quick ratio of 2.72. The firm has a market cap of $796.58, a PE ratio of 22.23, a price-to-earnings-growth ratio of 3.40 and a beta of 0.56.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $0.36 annualized dividend and a yield of 2.19%. ADTRAN’s payout ratio is presently 48.65%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in ADTRAN by 3.3% during the 4th quarter. BlackRock Inc. now owns 6,219,111 shares of the communications equipment provider’s stock worth $120,339,000 after buying an additional 200,074 shares during the period. Fuller & Thaler Asset Management Inc. increased its holdings in shares of ADTRAN by 0.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,784,564 shares of the communications equipment provider’s stock valued at $53,881,000 after purchasing an additional 8,361 shares during the period. Renaissance Technologies LLC increased its holdings in shares of ADTRAN by 3.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,767,828 shares of the communications equipment provider’s stock valued at $34,207,000 after purchasing an additional 57,300 shares during the period. State Street Corp increased its holdings in shares of ADTRAN by 4.3% in the 2nd quarter. State Street Corp now owns 1,332,947 shares of the communications equipment provider’s stock valued at $27,527,000 after purchasing an additional 54,671 shares during the period. Finally, Granite Investment Partners LLC increased its holdings in shares of ADTRAN by 6.1% in the 3rd quarter. Granite Investment Partners LLC now owns 562,588 shares of the communications equipment provider’s stock valued at $13,502,000 after purchasing an additional 32,519 shares during the period. Hedge funds and other institutional investors own 93.00% of the company’s stock.
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ADTRAN Company Profile
ADTRAN, Inc (ADTRAN) is a provider of networking and communications equipment. The Company’s solutions enable voice, data, video and Internet communications across a range of network infrastructures. It operates through two segments: Network Solutions and Services & Support. Network Solutions includes software and hardware products that enable CSPs and enterprise customers to realize a fully connected world.
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