ADTRAN (ADTN) Downgraded by BidaskClub

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BidaskClub downgraded shares of ADTRAN (NASDAQ:ADTN) from a hold rating to a sell rating in a report released on Wednesday morning, BidAskClub reports.

Other analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of ADTRAN from a buy rating to a hold rating in a research report on Friday, May 3rd. Cowen restated a market perform rating and set a $17.00 price objective (up from $14.00) on shares of ADTRAN in a research report on Monday, April 22nd. They noted that the move was a valuation call. Needham & Company LLC downgraded shares of ADTRAN from a buy rating to a hold rating in a research report on Tuesday, January 29th. ValuEngine upgraded shares of ADTRAN from a hold rating to a buy rating in a research report on Friday, April 19th. Finally, MKM Partners raised their price objective on shares of ADTRAN to $20.00 and gave the company a buy rating in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $19.40.

Shares of ADTN stock opened at $16.38 on Wednesday. ADTRAN has a one year low of $10.21 and a one year high of $19.30.

ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data on Wednesday, April 17th. The communications equipment provider reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.19. The firm had revenue of $143.79 million for the quarter, compared to the consensus estimate of $140.55 million. ADTRAN had a negative net margin of 1.40% and a negative return on equity of 0.32%. Sell-side analysts expect that ADTRAN will post 0.28 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Thursday, May 2nd were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, May 1st. This represents a $0.36 annualized dividend and a yield of 2.20%. ADTRAN’s payout ratio is -76.60%.

In related news, VP Roger D. Shannon sold 5,701 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $17.65, for a total transaction of $100,622.65. Following the completion of the transaction, the vice president now directly owns 19,009 shares of the company’s stock, valued at $335,508.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.52% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quantamental Technologies LLC purchased a new position in ADTRAN during the first quarter valued at $52,000. Financial Gravity Companies Inc. purchased a new position in ADTRAN during the fourth quarter valued at $59,000. Financial Gravity Wealth Inc. purchased a new position in ADTRAN during the first quarter valued at $59,000. Investors Research Corp purchased a new position in ADTRAN during the first quarter valued at $62,000. Finally, Public Employees Retirement System of Ohio grew its stake in shares of ADTRAN by 11.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 6,876 shares of the communications equipment provider’s stock worth $74,000 after buying an additional 726 shares in the last quarter. 89.17% of the stock is owned by institutional investors.

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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