ADTRAN (ADTN) PT Lowered to $25.00 at MKM Partners

ADTRAN (NASDAQ:ADTN) had its target price trimmed by MKM Partners from $27.00 to $25.00 in a research report report published on Friday morning, Marketbeat.com reports. The firm currently has a buy rating on the communications equipment provider’s stock.

Other research analysts also recently issued research reports about the stock. Northland Securities reiterated a buy rating and issued a $28.00 target price on shares of ADTRAN in a research note on Tuesday, September 5th. Zacks Investment Research downgraded shares of ADTRAN from a buy rating to a hold rating in a research note on Tuesday, September 19th. Finally, BidaskClub upgraded shares of ADTRAN from a sell rating to a hold rating in a research note on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $23.79.

ADTRAN (NASDAQ ADTN) opened at $19.35 on Friday. The stock has a market cap of $931.70, a P/E ratio of 21.74, a PEG ratio of 2.20 and a beta of 0.77. ADTRAN has a 52 week low of $18.65 and a 52 week high of $25.10. The company has a quick ratio of 2.43, a current ratio of 3.36 and a debt-to-equity ratio of 0.05.

ADTRAN (NASDAQ:ADTN) last issued its earnings results on Tuesday, October 17th. The communications equipment provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.13. The firm had revenue of $185.11 million for the quarter, compared to the consensus estimate of $185.43 million. ADTRAN had a net margin of 6.05% and a return on equity of 9.05%. research analysts forecast that ADTRAN will post 0.88 EPS for the current year.

In other news, SVP Raymond R. Schansman sold 48,056 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $21.70, for a total transaction of $1,042,815.20. Following the completion of the transaction, the senior vice president now directly owns 11,658 shares of the company’s stock, valued at $252,978.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin P. Heering sold 9,809 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $21.60, for a total transaction of $211,874.40. Following the transaction, the senior vice president now directly owns 10,162 shares of the company’s stock, valued at $219,499.20. The disclosure for this sale can be found here. 2.96% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace North America L.P. purchased a new stake in ADTRAN during the second quarter valued at approximately $728,000. Renaissance Technologies LLC increased its holdings 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 valued at $33,456,000 after buying an additional 328,600 shares during the last quarter. KBC Group NV increased its holdings in ADTRAN by 49.6% during the second quarter. KBC Group NV now owns 51,535 shares of the communications equipment provider’s stock valued at $1,064,000 after buying an additional 17,079 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in ADTRAN by 46.6% during the second quarter. JPMorgan Chase & Co. now owns 258,431 shares of the communications equipment provider’s stock valued at $5,336,000 after buying an additional 82,134 shares during the last quarter. Finally, State Street Corp increased its holdings in ADTRAN by 4.3% during the second quarter. State Street Corp now owns 1,332,947 shares of the communications equipment provider’s stock valued at $27,527,000 after buying an additional 54,671 shares during the last quarter. 91.37% of the stock is owned by hedge funds and other institutional investors.

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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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