ADTRAN (NASDAQ:ADTN) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

ADTRAN (NASDAQ:ADTN - Get Free Report) had its price objective lifted by equities research analysts at Needham & Company LLC from $8.00 to $11.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the communications equipment provider's stock. Needham & Company LLC's target price indicates a potential upside of 36.14% from the company's current price.

Several other equities research analysts have also recently issued reports on ADTN. StockNews.com raised ADTRAN from a "sell" rating to a "hold" rating in a report on Wednesday, October 2nd. Rosenblatt Securities raised ADTRAN from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $6.00 to $10.00 in a research note on Friday. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $9.50.

ADTRAN Price Performance

Shares of NASDAQ ADTN traded up $0.53 during mid-day trading on Friday, reaching $8.08. The company's stock had a trading volume of 1,833,764 shares, compared to its average volume of 818,011. The stock has a fifty day moving average of $5.87 and a two-hundred day moving average of $5.53. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.31 and a quick ratio of 1.31. ADTRAN has a 52 week low of $4.34 and a 52 week high of $8.16. The firm has a market capitalization of $640.19 million, a PE ratio of -1.24 and a beta of 1.20.

ADTRAN (NASDAQ:ADTN - Get Free Report) last released its quarterly earnings data on Monday, August 5th. The communications equipment provider reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.14). ADTRAN had a negative net margin of 58.64% and a negative return on equity of 29.26%. The company had revenue of $225.99 million for the quarter, compared to the consensus estimate of $225.95 million. As a group, sell-side analysts anticipate that ADTRAN will post -0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Blue Trust Inc. raised its position in ADTRAN by 798.7% during the third quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider's stock valued at $28,000 after purchasing an additional 4,177 shares during the period. Park Avenue Securities LLC purchased a new position in ADTRAN during the third quarter worth $65,000. Point72 DIFC Ltd purchased a new position in ADTRAN during the second quarter worth $69,000. SG Americas Securities LLC bought a new position in ADTRAN during the second quarter valued at $90,000. Finally, PEAK6 Investments LLC raised its stake in shares of ADTRAN by 28.5% in the first quarter. PEAK6 Investments LLC now owns 17,646 shares of the communications equipment provider's stock valued at $96,000 after acquiring an additional 3,911 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.