ADTRAN’s (ADTN) “Buy” Rating Reaffirmed at Northland Securities

Northland Securities reissued their buy rating on shares of ADTRAN (NASDAQ:ADTN) in a research report released on Thursday. They currently have a $23.00 price target on the communications equipment provider’s stock.

ADTN has been the topic of a number of other research reports. Zacks Investment Research raised ADTRAN from a hold rating to a strong-buy rating and set a $26.00 price objective on the stock in a report on Friday, October 20th. Needham & Company LLC reaffirmed a buy rating and issued a $22.00 price objective (down previously from $26.00) on shares of ADTRAN in a report on Friday, January 12th. Cowen reaffirmed a hold rating and issued a $16.00 price objective on shares of ADTRAN in a report on Friday, December 29th. Goldman Sachs Group raised 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, BidaskClub lowered ADTRAN from a hold rating to a sell rating in a research note on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $21.41.

Shares of ADTRAN (NASDAQ:ADTN) traded down $0.28 on Thursday, reaching $16.40. The company’s stock had a trading volume of 1,046,202 shares, compared to its average volume of 533,353. ADTRAN has a 12 month low of $16.25 and a 12 month high of $25.10. The stock has a market cap of $802.89, a price-to-earnings ratio of 32.80, a PEG ratio of 2.42 and a beta of 0.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.98 and a quick ratio of 2.43.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data on Tuesday, January 16th. The communications equipment provider reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.04. ADTRAN had a return on equity of 7.95% and a net margin of 3.58%. The company had revenue of $126.52 million for the quarter, compared to analyst estimates of $125.90 million. equities analysts predict that ADTRAN will post 0.69 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Tuesday, January 30th. ADTRAN’s dividend payout ratio (DPR) is 72.00%.

In other news, SVP Kevin P. Heering sold 9,809 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The stock was 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 approximately $219,499.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.96% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its stake in ADTRAN by 25.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,620,128 shares of the communications equipment provider’s stock valued at $33,456,000 after buying an additional 328,600 shares in the last quarter. Northern Trust Corp lifted its stake in ADTRAN by 37.1% in the 2nd quarter. Northern Trust Corp now owns 914,639 shares of the communications equipment provider’s stock valued at $18,886,000 after buying an additional 247,413 shares in the last quarter. FMR LLC lifted its stake in ADTRAN by 167.6% in the 2nd quarter. FMR LLC now owns 390,801 shares of the communications equipment provider’s stock valued at $8,070,000 after buying an additional 244,770 shares in the last quarter. Prudential Financial Inc. lifted its stake in ADTRAN by 56.0% in the 3rd quarter. Prudential Financial Inc. now owns 434,901 shares of the communications equipment provider’s stock valued at $10,438,000 after buying an additional 156,030 shares in the last quarter. Finally, Citadel Advisors LLC lifted its stake in ADTRAN by 226.6% in the 2nd quarter. Citadel Advisors LLC now owns 213,327 shares of the communications equipment provider’s stock valued at $4,405,000 after buying an additional 148,003 shares in the last quarter. 91.37% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for ADTRAN (NASDAQ:ADTN)

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