BidaskClub Upgrades ADTRAN (NASDAQ:ADTN) to “Sell”

ADTRAN (NASDAQ:ADTN) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Friday, BidAskClub reports.

Several other equities research analysts have also recently weighed in on the company. MKM Partners upped their price target on Travelers Companies to $140.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. Cowen set a $75.00 price target on Baxter International and gave the stock a “hold” rating in a research note on Monday, April 22nd. Zacks Investment Research cut Horiba from a “hold” rating to a “sell” rating in a research note on Wednesday, May 22nd. Finally, ValuEngine raised Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $19.40.

ADTN opened at $15.72 on Friday. ADTRAN has a 52-week low of $10.21 and a 52-week high of $19.30. The stock has a market capitalization of $749.65 million, a PE ratio of -33.45, a PEG ratio of 14.47 and a beta of 1.25. The company’s 50 day simple moving average is $15.91.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings results on Wednesday, April 17th. The communications equipment provider reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.19. The company had revenue of $143.79 million for the quarter, compared to analysts’ expectations of $140.55 million. ADTRAN had a negative return on equity of 0.32% and a negative net margin of 1.40%. As a group, equities analysts anticipate that ADTRAN will post 0.22 earnings per share for the current year.

In related news, VP Roger D. Shannon sold 5,701 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $17.65, for a total value of $100,622.65. Following the sale, the vice president now directly owns 19,009 shares of the company’s stock, valued at $335,508.85. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.52% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Quantamental Technologies LLC bought a new stake in ADTRAN in the first quarter worth $52,000. Financial Gravity Wealth Inc. bought a new stake in ADTRAN in the first quarter worth $59,000. Investors Research Corp bought a new stake in ADTRAN in the first quarter worth $62,000. Public Employees Retirement System of Ohio boosted its holdings in ADTRAN by 11.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 6,876 shares of the communications equipment provider’s stock worth $74,000 after acquiring an additional 726 shares in the last quarter. Finally, Massey Quick Simon & CO. LLC boosted its holdings in ADTRAN by 75.3% in the first quarter. Massey Quick Simon & CO. LLC now owns 11,084 shares of the communications equipment provider’s stock worth $152,000 after acquiring an additional 4,761 shares in the last quarter. 91.30% of the stock is currently owned by institutional investors and hedge funds.

About ADTRAN

ADTRAN, Inc provides networking and communications equipment worldwide. The company operates through two segments, Network Solutions and Services & Support. It offers access and aggregation solutions, including network management and subscriber services control and orchestration software within a SD-access architecture; SDN-controlled programmable network elements; fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; fiber to the distribution point optical network units; optical line terminals; optical networking edge aggregation; and IP digital subscriber line access multiplexers.

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Analyst Recommendations for ADTRAN (NASDAQ:ADTN)

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