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.
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.
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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