ADTRAN, Inc. (ADTN) Rating Lowered to Strong Sell at BidaskClub

ADTRAN, Inc. (NASDAQ:ADTN) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Wednesday.

A number of other analysts have also commented on ADTN. Needham & Company LLC decreased their target price on ADTRAN from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, April 20th. Argus raised ADTRAN from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Thursday, April 20th. MKM Partners reaffirmed a “buy” rating and issued a $26.50 target price (down from $27.50) on shares of ADTRAN in a research report on Monday, April 24th. Northland Securities reaffirmed a “buy” rating and issued a $24.00 target price on shares of ADTRAN in a research report on Tuesday, July 4th. Finally, Zacks Investment Research upgraded ADTRAN from a “hold” rating to a “strong-buy” rating and set a $25.00 price target for the company in a research note on Friday, July 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $23.57.

ADTRAN (ADTN) traded up 0.46% on Wednesday, hitting $21.80. The stock had a trading volume of 20,882 shares. The company has a 50-day moving average price of $21.80 and a 200-day moving average price of $20.91. ADTRAN has a 52 week low of $17.55 and a 52 week high of $24.05. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 27.22 and a beta of 0.65.

ADTRAN (NASDAQ:ADTN) last issued its earnings results on Tuesday, July 18th. The communications equipment provider reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.11. ADTRAN had a return on equity of 8.39% and a net margin of 5.68%. The business had revenue of $184.67 million during the quarter, compared to analyst estimates of $183.05 million. During the same period in the previous year, the company posted $0.21 EPS. Equities research analysts anticipate that ADTRAN will post $0.81 earnings per share for the current fiscal year.

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In other ADTRAN news, SVP Michael Foliano sold 24,000 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $23.77, for a total transaction of $570,480.00. Following the sale, the senior vice president now owns 5,417 shares of the company’s stock, valued at approximately $128,762.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.96% of the company’s stock.

A number of large investors have recently modified their holdings of ADTN. Eqis Capital Management Inc. raised its position in shares of ADTRAN by 2.9% in the first quarter. Eqis Capital Management Inc. now owns 13,167 shares of the communications equipment provider’s stock valued at $273,000 after buying an additional 369 shares during the period. Great West Life Assurance Co. Can raised its stake in ADTRAN by 5.7% in the first quarter. Great West Life Assurance Co. Can now owns 67,036 shares of the communications equipment provider’s stock valued at $1,388,000 after buying an additional 3,623 shares during the last quarter. Geneva Advisors LLC acquired a new stake in ADTRAN during the first quarter valued at about $569,000. Old Mutual Global Investors UK Ltd. acquired a new stake in ADTRAN during the first quarter valued at about $371,000. Finally, First Midwest Bank Trust Division raised its stake in ADTRAN by 3.1% in the first quarter. First Midwest Bank Trust Division now owns 20,310 shares of the communications equipment provider’s stock valued at $421,000 after buying an additional 612 shares during the last quarter. 90.07% of the stock is currently owned by institutional investors and hedge funds.

About ADTRAN

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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