Rosenblatt Securities Reiterates "Buy" Rating for ADTRAN (NASDAQ:ADTN)

Rosenblatt Securities restated their buy rating on shares of ADTRAN (NASDAQ:ADTN - Free Report) in a report released on Friday,Benzinga reports. Rosenblatt Securities currently has a $15.00 price target on the communications equipment provider's stock.

A number of other equities analysts have also weighed in on ADTN. Northland Securities upped their target price on ADTRAN from $9.00 to $10.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. Craig Hallum started coverage on ADTRAN in a research note on Wednesday, January 8th. They set a "buy" rating and a $15.00 price objective on the stock. Finally, Needham & Company LLC upped their price target on shares of ADTRAN from $11.00 to $14.00 and gave the company a "buy" rating in a report on Friday. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $13.50.

ADTRAN Price Performance

Shares of ADTN traded up $0.07 during midday trading on Friday, hitting $10.63. 1,815,984 shares of the company traded hands, compared to its average volume of 858,426. The stock has a 50-day moving average of $10.21 and a 200-day moving average of $7.92. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17. The firm has a market cap of $843.02 million, a P/E ratio of -1.63 and a beta of 1.29. ADTRAN has a one year low of $4.34 and a one year high of $12.44.

Remove Ads

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Quantinno Capital Management LP grew its position in ADTRAN by 4.3% during the 4th quarter. Quantinno Capital Management LP now owns 21,180 shares of the communications equipment provider's stock valued at $176,000 after purchasing an additional 877 shares during the last quarter. Catalyst Funds Management Pty Ltd grew its position in ADTRAN by 6.0% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 22,800 shares of the communications equipment provider's stock valued at $190,000 after buying an additional 1,300 shares during the period. Hsbc Holdings PLC raised its holdings in ADTRAN by 11.4% in the 4th quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider's stock worth $122,000 after purchasing an additional 1,501 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of ADTRAN by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,821 shares of the communications equipment provider's stock worth $373,000 after buying an additional 1,605 shares during the period. Finally, Tudor Investment Corp ET AL boosted its position in shares of ADTRAN by 0.6% in the fourth quarter. Tudor Investment Corp ET AL now owns 278,489 shares of the communications equipment provider's stock worth $2,320,000 after purchasing an additional 1,670 shares during the period. Institutional investors own 80.56% of the company's stock.

About ADTRAN

ADTRAN Holdings, Inc, through its subsidiaries, provides networking and communications platforms, software, systems, and services in the United States, Germany, the United Kingdom, and internationally. It operates through two segments, Network Solutions, and Services & Support. It offers residential gateways; ethernet passive optical network ONUs; gigabit passive optical network/XGS-PON ONTs; traditional SSE, routers, and switches; edge cloud; carrier ethernet network interface devices; Optical Line Terminals; Packet Aggregation, Copper Access, and Oscilloquartz; optical transport and engine solutions; infrastructure monitoring solution; and training, professional, software, and managed services.