Recent Analysts’ Ratings Changes for ADTRAN (ADTN)

ADTRAN (NASDAQ: ADTN) has recently received a number of price target changes and ratings updates:

  • 10/15/2019 – ADTRAN was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 10/14/2019 – ADTRAN was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. They now have a $10.00 price target on the stock. According to Zacks, “ADTRAN continues to optimize its customer, geographic and product diversity momentum as communication service providers scale their network capabilities. It is poised to benefit from growing customer engagements across its portfolio of software-defined access, 10G solutions and G.fast products. A comprehensive portfolio of maintenance, turnkey network implementation, solutions integration and managed services offers compelling revenue-generating opportunities. However, high technological obsolescence of its products increases operating costs with continuous R&D investments, limiting its growth potential. In addition, simmering Sino-U.S. tensions related to trade restrictions imposed on the sale of communication equipment to Chinese firms have dented the industry's credibility, and have led to a loss of business for the company.”
  • 10/10/2019 – ADTRAN was downgraded by analysts at MKM Partners from a “buy” rating to a “neutral” rating. They now have a $11.00 price target on the stock, down previously from $17.00.
  • 10/10/2019 – ADTRAN had its “hold” rating reaffirmed by analysts at Northland Securities. They now have a $10.00 price target on the stock.
  • 9/12/2019 – ADTRAN was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.

Shares of ADTRAN stock opened at $9.63 on Monday. The firm has a market cap of $469.18 million, a PE ratio of -20.49, a PEG ratio of 42.04 and a beta of 1.24. ADTRAN, Inc. has a 1 year low of $8.09 and a 1 year high of $17.81. The company has a 50 day simple moving average of $10.76 and a two-hundred day simple moving average of $13.58.

In other news, VP Roger D. Shannon sold 6,200 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $9.71, for a total value of $60,202.00. Following the completion of the sale, the vice president now directly owns 12,809 shares in the company, valued at approximately $124,375.39. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.52% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of Montreal Can lifted its holdings in shares of ADTRAN by 757.0% in the 2nd quarter. Bank of Montreal Can now owns 4,499 shares of the communications equipment provider’s stock worth $69,000 after acquiring an additional 3,974 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of ADTRAN in the 2nd quarter worth approximately $114,000. Stevens Capital Management LP bought a new stake in shares of ADTRAN in the 2nd quarter worth approximately $155,000. Menta Capital LLC bought a new stake in shares of ADTRAN in the 2nd quarter worth approximately $189,000. Finally, Trexquant Investment LP lifted its holdings in shares of ADTRAN by 23.9% in the 2nd quarter. Trexquant Investment LP now owns 14,142 shares of the communications equipment provider’s stock worth $216,000 after acquiring an additional 2,727 shares during the last quarter. Hedge funds and other institutional investors own 91.19% of the company’s stock.

ADTRAN, Inc provides networking and communications equipment worldwide. The company operates through two segments, Network Solutions and Services & Support. It offers access and aggregation solutions, including network management and subscriber services control and orchestration software within a SD-access architecture; SDN-controlled programmable network elements; fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; fiber to the distribution point optical network units; optical line terminals; optical networking edge aggregation; and IP digital subscriber line access multiplexers.

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