Northland Securities Issues Positive Forecast for ADTRAN (NASDAQ:ADTN) Stock Price

ADTRAN (NASDAQ:ADTN) had its target price hoisted by Northland Securities from $9.00 to $10.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an outperform rating on the communications equipment provider’s stock.

Several other research analysts also recently commented on the company. Needham & Company LLC lifted their target price on ADTRAN from $8.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Rosenblatt Securities upgraded ADTRAN from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $6.00 to $10.00 in a research report on Friday, November 8th. Finally, StockNews.com upgraded ADTRAN from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $10.33.

ADTRAN Price Performance

Shares of NASDAQ:ADTN opened at $8.39 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10. ADTRAN has a 52 week low of $4.34 and a 52 week high of $9.21. The firm has a market cap of $665.38 million, a PE ratio of -1.29 and a beta of 1.29. The firm’s fifty day moving average is $7.52 and its 200-day moving average is $6.20.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Barclays PLC boosted its position in shares of ADTRAN by 11.4% during the 3rd quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider’s stock valued at $686,000 after purchasing an additional 11,880 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of ADTRAN by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,810,112 shares of the communications equipment provider’s stock worth $10,736,000 after buying an additional 63,960 shares in the last quarter. State Street Corp grew its position in shares of ADTRAN by 2.8% during the 3rd quarter. State Street Corp now owns 1,767,902 shares of the communications equipment provider’s stock worth $10,484,000 after buying an additional 48,542 shares during the period. Quantinno Capital Management LP acquired a new stake in shares of ADTRAN during the 3rd quarter worth approximately $120,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of ADTRAN in the 3rd quarter valued at $114,000. 80.56% of the stock is owned by institutional investors.

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.