BidaskClub cut shares of ADTRAN (NASDAQ:ADTN) from a buy rating to a hold rating in a research note published on Wednesday.
ADTN has been the subject of several other research reports. Bank of America raised shares of ADTRAN from an underperform rating to a neutral rating in a research note on Thursday, September 13th. ValuEngine raised shares of ADTRAN from a sell rating to a hold rating in a research note on Saturday, July 14th. MKM Partners lifted their price objective on shares of ADTRAN from $21.00 to $22.00 in a research note on Thursday, September 13th. Needham & Company LLC reduced their price objective on shares of ADTRAN from $18.00 to $17.00 and set a buy rating for the company in a research note on Thursday, October 18th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of ADTRAN from a hold rating to a buy rating and set a $19.00 price objective for the company in a research note on Tuesday, October 9th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $17.89.
ADTN stock opened at $13.54 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.96 and a current ratio of 2.82. ADTRAN has a 1 year low of $13.05 and a 1 year high of $23.15.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Wednesday, October 31st will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Tuesday, October 30th. ADTRAN’s dividend payout ratio is 40.45%.
Institutional investors have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in ADTRAN during the 2nd quarter worth $151,000. Xact Kapitalforvaltning AB acquired a new position in ADTRAN during the 2nd quarter worth $168,000. Raymond James & Associates acquired a new position in ADTRAN during the 2nd quarter worth $272,000. First Trust Advisors LP acquired a new position in ADTRAN during the 3rd quarter worth $367,000. Finally, Alps Advisors Inc. acquired a new position in ADTRAN during the 2nd quarter worth $407,000. 95.08% of the stock is owned by hedge funds and other institutional investors.
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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