ADTRAN (NASDAQ:ADTN) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of ADTRAN (NASDAQ:ADTN) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

Several other research analysts also recently issued reports on the stock. Needham & Company LLC restated a buy rating and set a $8.00 price objective on shares of ADTRAN in a report on Monday, May 20th. Northland Securities upgraded shares of ADTRAN from a market perform rating to an outperform rating and set a $7.50 price objective on the stock in a report on Wednesday, May 8th. Finally, Northland Capmk upgraded shares of ADTRAN from a hold rating to a strong-buy rating in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $7.67.

ADTRAN Stock Performance

Shares of ADTN opened at $6.13 on Thursday. The company has a market capitalization of $485.01 million, a PE ratio of -0.89 and a beta of 1.21. ADTRAN has a one year low of $4.34 and a one year high of $10.31. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.46 and a quick ratio of 1.33. The company’s fifty day moving average price is $5.41 and its 200 day moving average price is $5.68.

ADTRAN (NASDAQ:ADTN) last announced its earnings results on Tuesday, May 7th. The communications equipment provider reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.05. ADTRAN had a negative net margin of 51.42% and a negative return on equity of 18.98%. The firm had revenue of $226.17 million for the quarter, compared to the consensus estimate of $223.00 million. As a group, analysts expect that ADTRAN will post -0.23 earnings per share for the current year.

Institutional Trading of ADTRAN

Several institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in shares of ADTRAN by 3.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 83,155 shares of the communications equipment provider’s stock valued at $453,000 after acquiring an additional 2,764 shares in the last quarter. Victory Capital Management Inc. boosted its position in ADTRAN by 28.4% in the fourth quarter. Victory Capital Management Inc. now owns 15,041 shares of the communications equipment provider’s stock valued at $110,000 after buying an additional 3,326 shares in the last quarter. Cape Investment Advisory Inc. acquired a new position in ADTRAN in the fourth quarter valued at about $27,000. PEAK6 Investments LLC boosted its position in 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 buying an additional 3,911 shares in the last quarter. Finally, Koesten Hirschmann & Crabtree INC. boosted its position in ADTRAN by 13.9% in the first quarter. Koesten Hirschmann & Crabtree INC. now owns 54,099 shares of the communications equipment provider’s stock valued at $294,000 after buying an additional 6,587 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

ADTRAN Company Profile

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.