TheStreet Downgrades ADTRAN (ADTN) to C+

ADTRAN (NASDAQ:ADTN) was downgraded by stock analysts at TheStreet from a “b” rating to a “c+” rating in a note issued to investors on Wednesday, January 17th.

Several other analysts also recently commented on ADTN. Zacks Investment Research downgraded shares of ADTRAN from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. Northland Securities set a $28.00 target price on shares of ADTRAN and gave the company a “buy” rating in a report on Wednesday, October 18th. BidaskClub downgraded shares of ADTRAN from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. MKM Partners decreased their price objective on shares of ADTRAN from $27.00 to $25.00 and set a “buy” rating for the company in a report on Friday, December 29th. Finally, Cowen restated a “hold” rating and set a $16.00 price objective on shares of ADTRAN in a report on Friday, December 29th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. ADTRAN presently has an average rating of “Hold” and an average target price of $21.41.

ADTRAN (ADTN) opened at $16.05 on Wednesday. The stock has a market cap of $772.81, a price-to-earnings ratio of 19.81, a P/E/G ratio of 5.44 and a beta of 0.57. ADTRAN has a 12 month low of $15.65 and a 12 month high of $25.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.79 and a current ratio of 3.98.

ADTRAN (NASDAQ:ADTN) last released its quarterly earnings data on Tuesday, January 16th. The communications equipment provider reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. ADTRAN had a net margin of 3.58% and a return on equity of 7.95%. The firm had revenue of $126.52 million for the quarter, compared to analyst estimates of $125.90 million. analysts predict that ADTRAN will post 0.29 EPS for the current year.

A number of large investors have recently modified their holdings of ADTN. Renaissance Technologies LLC boosted its position in ADTRAN by 25.4% during the second quarter. Renaissance Technologies LLC now owns 1,620,128 shares of the communications equipment provider’s stock worth $33,456,000 after purchasing an additional 328,600 shares during the period. Northern Trust Corp boosted its position in ADTRAN by 37.1% during the second quarter. Northern Trust Corp now owns 914,639 shares of the communications equipment provider’s stock worth $18,886,000 after purchasing an additional 247,413 shares during the period. FMR LLC boosted its position in shares of ADTRAN by 167.6% in the second quarter. FMR LLC now owns 390,801 shares of the communications equipment provider’s stock valued at $8,070,000 after acquiring an additional 244,770 shares during the period. BlackRock Inc. boosted its position in shares of ADTRAN by 3.3% in the fourth quarter. BlackRock Inc. now owns 6,219,111 shares of the communications equipment provider’s stock valued at $120,339,000 after acquiring an additional 200,074 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of ADTRAN by 55.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 492,238 shares of the communications equipment provider’s stock valued at $9,525,000 after acquiring an additional 176,332 shares during the period. Hedge funds and other institutional investors own 91.63% of the company’s stock.

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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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