BidaskClub Downgrades ADTRAN (ADTN) to Sell

ADTRAN (NASDAQ:ADTN) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

A number of other research analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of ADTRAN from a “hold” rating to a “strong-buy” rating and set a $26.00 price target on the stock in a research note on Friday, October 20th. Northland Securities set a $28.00 price target on shares of ADTRAN and gave the stock a “buy” rating in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. ADTRAN currently has a consensus rating of “Hold” and a consensus price target of $24.29.

ADTRAN (NASDAQ:ADTN) opened at $21.80 on Tuesday. The company has a quick ratio of 2.43, a current ratio of 3.36 and a debt-to-equity ratio of 0.05. The company has a market cap of $1,052.07, a price-to-earnings ratio of 23.75, a price-to-earnings-growth ratio of 2.48 and a beta of 0.77. ADTRAN has a one year low of $18.92 and a one year high of $25.10.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings results on Tuesday, October 17th. The communications equipment provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.13. ADTRAN had a net margin of 6.05% and a return on equity of 9.05%. The business had revenue of $185.11 million for the quarter, compared to analyst estimates of $185.43 million. equities research analysts anticipate that ADTRAN will post 0.88 EPS for the current year.

In related news, SVP Kevin P. Heering sold 9,809 shares of the business’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $21.60, for a total transaction of $211,874.40. Following the sale, the senior vice president now owns 10,162 shares of the company’s stock, valued at $219,499.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Raymond R. Schansman sold 48,056 shares of the business’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $21.70, for a total transaction of $1,042,815.20. Following the sale, the senior vice president now directly owns 11,658 shares in the company, valued at approximately $252,978.60. The disclosure for this sale can be found here. Insiders own 2.96% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Algert Global LLC boosted its holdings in ADTRAN by 19.8% during the third quarter. Algert Global LLC now owns 131,331 shares of the communications equipment provider’s stock worth $3,152,000 after buying an additional 21,727 shares in the last quarter. California Public Employees Retirement System boosted its holdings in ADTRAN by 4.9% during the third quarter. California Public Employees Retirement System now owns 187,914 shares of the communications equipment provider’s stock worth $4,510,000 after buying an additional 8,814 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in ADTRAN during the third quarter worth about $447,000. Vident Investment Advisory LLC purchased a new stake in ADTRAN during the third quarter worth about $238,000. Finally, Magnetar Financial LLC purchased a new stake in ADTRAN during the third quarter worth about $257,000. 91.37% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for ADTRAN (NASDAQ:ADTN)

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