ADTRAN (ADTN) Stock Price Down 0.2%

ADTRAN Inc (NASDAQ:ADTN) fell 0.2% on Thursday . The company traded as low as $14.40 and last traded at $14.92. 207,553 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 598,054 shares. The stock had previously closed at $14.95.

A number of research firms have recently weighed in on ADTN. Needham & Company LLC reissued a “buy” rating and issued a $18.00 target price (down previously from $22.00) on shares of ADTRAN in a research note on Thursday. Argus lowered ADTRAN from a “buy” rating to a “hold” rating in a research note on Thursday. Northland Securities reissued a “buy” rating and issued a $23.00 target price on shares of ADTRAN in a research note on Thursday, January 18th. Jefferies Group reissued a “hold” rating and issued a $17.25 target price on shares of ADTRAN in a research note on Thursday, January 18th. Finally, ValuEngine downgraded ADTRAN from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. ADTRAN presently has an average rating of “Hold” and an average price target of $20.32.

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The firm has a market cap of $716.17, a PE ratio of 16.52, a PEG ratio of 2.77 and a beta of 0.62. The company has a quick ratio of 2.72, a current ratio of 3.87 and a debt-to-equity ratio of 0.05.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings results on Tuesday, April 17th. The communications equipment provider reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.15). ADTRAN had a net margin of 1.30% and a return on equity of 3.30%. The business had revenue of $120.81 million for the quarter, compared to analysts’ expectations of $126.20 million. During the same quarter in the prior year, the firm earned $0.14 EPS. analysts forecast that ADTRAN Inc will post 0.54 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 16th. Investors of record on Wednesday, May 2nd will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, May 1st. This represents a $0.36 dividend on an annualized basis and a yield of 2.45%. ADTRAN’s dividend payout ratio is presently 40.45%.

A number of large investors have recently made changes to their positions in ADTN. Thrivent Financial For Lutherans increased its holdings in ADTRAN by 694.7% during the 4th quarter. Thrivent Financial For Lutherans now owns 230,940 shares of the communications equipment provider’s stock valued at $4,468,000 after purchasing an additional 201,880 shares during the period. BlackRock Inc. grew its holdings in shares of ADTRAN by 3.3% during the 4th quarter. BlackRock Inc. now owns 6,219,111 shares of the communications equipment provider’s stock worth $120,339,000 after acquiring an additional 200,074 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of ADTRAN by 55.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 492,238 shares of the communications equipment provider’s stock worth $9,525,000 after acquiring an additional 176,332 shares during the period. Dean Investment Associates LLC grew its holdings in shares of ADTRAN by 113.5% during the 4th quarter. Dean Investment Associates LLC now owns 282,226 shares of the communications equipment provider’s stock worth $5,461,000 after acquiring an additional 150,016 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in shares of ADTRAN during the 4th quarter worth approximately $2,390,000. Institutional investors own 94.01% of the company’s stock.

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ADTRAN Company Profile

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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