ADTRAN (NASDAQ:ADTN) Receives “Buy” Rating from Rosenblatt Securities

ADTRAN (NASDAQ:ADTN)‘s stock had its “buy” rating reiterated by equities researchers at Rosenblatt Securities in a report issued on Friday,Benzinga reports. They currently have a $15.00 price objective on the communications equipment provider’s stock. Rosenblatt Securities’ target price would suggest a potential upside of 41.96% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. Craig Hallum initiated coverage on shares of ADTRAN in a report on Wednesday, January 8th. They issued a “buy” rating and a $15.00 target price on the stock. Needham & Company LLC boosted their price objective on shares of ADTRAN from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Friday. Finally, Northland Securities increased their target price on shares of ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $13.50.

ADTRAN Trading Down 0.4 %

Shares of ADTN stock opened at $10.57 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17. The business has a 50-day moving average of $10.12 and a 200 day moving average of $7.80. The stock has a market capitalization of $837.95 million, a PE ratio of -1.62 and a beta of 1.29. ADTRAN has a 1-year low of $4.34 and a 1-year high of $12.44.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ADTN. Geode Capital Management LLC increased its position in shares of ADTRAN by 3.7% during the third quarter. Geode Capital Management LLC now owns 1,810,112 shares of the communications equipment provider’s stock valued at $10,736,000 after buying an additional 63,960 shares during the period. Assenagon Asset Management S.A. boosted its position in ADTRAN by 39.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 925,310 shares of the communications equipment provider’s stock valued at $7,708,000 after acquiring an additional 263,156 shares in the last quarter. Barclays PLC grew its holdings in shares of ADTRAN by 11.4% during the 3rd quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider’s stock worth $686,000 after acquiring an additional 11,880 shares during the period. State Street Corp raised its position in shares of ADTRAN by 2.8% in the 3rd quarter. State Street Corp now owns 1,767,902 shares of the communications equipment provider’s stock worth $10,484,000 after acquiring an additional 48,542 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its stake in shares of ADTRAN by 99.3% in the 3rd quarter. GSA Capital Partners LLP now owns 491,414 shares of the communications equipment provider’s stock valued at $2,914,000 after purchasing an additional 244,901 shares during the period. 80.56% of the stock is currently owned by institutional investors.

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.