Latest Stocks: Brokerages Set ADTRAN, Inc. (ADTN) Price Target at $23.20

Latest Stocks: Brokerages Set ADTRAN, Inc. (ADTN) Price Target at $23.20

ADTRAN, Inc. (NASDAQ:ADTN) has received a consensus recommendation of “Buy” from the seven analysts that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $23.20.

A number of equities research analysts have recently weighed in on ADTN shares. Needham & Company LLC dropped their price objective on shares of ADTRAN from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, April 20th. Zacks Investment Research lowered shares of ADTRAN from a “buy” rating to a “hold” rating in a report on Tuesday, March 21st. MKM Partners reissued a “buy” rating and set a $26.50 price objective (down from $27.50) on shares of ADTRAN in a report on Monday, April 24th. Finally, Argus raised shares of ADTRAN from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Thursday, April 20th.

Several large investors have recently bought and sold shares of ADTN. State of Alaska Department of Revenue raised its stake in ADTRAN by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 5,350 shares of the communications equipment provider’s stock valued at $111,000 after buying an additional 110 shares during the last quarter. Nordea Investment Management AB raised its stake in ADTRAN by 12.8% in the first quarter. Nordea Investment Management AB now owns 7,059 shares of the communications equipment provider’s stock valued at $146,000 after buying an additional 800 shares during the last quarter. SG Americas Securities LLC purchased a new stake in ADTRAN during the first quarter valued at about $160,000. Trexquant Investment LP purchased a new stake in ADTRAN during the first quarter valued at about $220,000. Finally, Mason Street Advisors LLC raised its stake in ADTRAN by 7.3% in the first quarter. Mason Street Advisors LLC now owns 11,346 shares of the communications equipment provider’s stock valued at $235,000 after buying an additional 770 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds. ADTRAN (NASDAQ:ADTN) opened at 20.50 on Tuesday. The stock has a market cap of $990.62 million, a PE ratio of 26.97 and a beta of 0.60. ADTRAN has a 52-week low of $17.06 and a 52-week high of $23.75. The firm has a 50-day moving average price of $19.91 and a 200 day moving average price of $21.11.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data on Tuesday, April 18th. The communications equipment provider reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.06. The firm had revenue of $170.28 million for the quarter, compared to analyst estimates of $167.87 million. ADTRAN had a net margin of 5.53% and a return on equity of 7.57%. During the same period in the previous year, the company earned $0.10 earnings per share. On average, analysts forecast that ADTRAN will post $0.69 earnings per share for the current fiscal year. The company also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Thursday, May 4th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Tuesday, May 2nd. ADTRAN’s payout ratio is currently 49.32%.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data on Tuesday, April 18th. The communications equipment provider reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.06. The firm had revenue of $170.28 million for the quarter, compared to analyst estimates of $167.87 million. ADTRAN had a net margin of 5.53% and a return on equity of 7.57%. During the same period in the previous year, the company earned $0.10 earnings per share. On average, analysts forecast that ADTRAN will post $0.69 earnings per share for the current fiscal year. ADTRAN Company Profile

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