ADTRAN (NASDAQ:ADTN) Price Target Raised to $14.00

ADTRAN (NASDAQ:ADTN) had its price objective lifted by equities research analysts at Needham & Company LLC from $11.00 to $14.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the communications equipment provider’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 32.50% from the company’s previous close.

A number of other brokerages have also issued reports on ADTN. Rosenblatt Securities lifted their target price on shares of ADTRAN from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Northland Securities boosted their target price on ADTRAN from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Finally, Craig Hallum initiated coverage on ADTRAN in a research note on Wednesday, January 8th. They set a “buy” rating and a $15.00 price target for the company. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ADTRAN currently has an average rating of “Buy” and a consensus target price of $13.50.

ADTRAN Price Performance

Shares of ADTN 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 company has a market capitalization of $837.95 million, a price-to-earnings ratio of -1.62 and a beta of 1.29. The business’s 50-day moving average is $10.12 and its 200-day moving average is $7.80. ADTRAN has a fifty-two week low of $4.34 and a fifty-two week high of $12.44.

Institutional Investors Weigh In On ADTRAN

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. increased its position in ADTRAN by 798.7% during the third quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider’s stock worth $28,000 after buying an additional 4,177 shares during the last quarter. Aquatic Capital Management LLC boosted its stake in shares of ADTRAN by 1,572.5% during the 4th quarter. Aquatic Capital Management LLC now owns 6,690 shares of the communications equipment provider’s stock worth $56,000 after acquiring an additional 6,290 shares in the last quarter. Intech Investment Management LLC acquired a new stake in ADTRAN in the 3rd quarter worth approximately $92,000. SIH Partners LLLP bought a new stake in ADTRAN during the fourth quarter worth approximately $107,000. Finally, Harbor Capital Advisors Inc. grew its holdings in ADTRAN by 94.8% during the third quarter. Harbor Capital Advisors Inc. now owns 18,906 shares of the communications equipment provider’s stock valued at $112,000 after purchasing an additional 9,202 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

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.