ADTRAN (ADTN) is Downgraded by Goldman to Sell

ADTRAN (ADTN) was Downgraded by Goldman to ” Sell”. Earlier the firm had a rating of “Neutral ” on the company shares. Goldman advised their investors in a research report released on Apr 19, 2016.

Many Wall Street Analysts have commented on ADTRAN. Company shares were Reiterated by Needham on Apr 14, 2016 to “Buy”, Firm has raised the Price Target to $ 22 from a previous price target of $21 .Company shares were Reiterated by MKM Partners on Apr 14, 2016 to “Buy”, Firm has raised the Price Target to $ 24 from a previous price target of $23 .Northland Capital Downgraded ADTRAN on Apr 13, 2016 to ” Market Perform”, Price Target of the shares are set at $20.

On the company’s financial health, ADTRAN reported $0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Oct 13, 2015. Analyst had a consensus of $0.17. The company had revenue of $158.08 million for the quarter, compared to analysts expectations of $160.32 million. The company’s revenue was down -3.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.25 EPS.

ADTRAN opened for trading at $20.21 and hit $20.55 on the upside on Monday, eventually ending the session at $20.43, with a gain of 0.64% or 0.13 points. The heightened volatility saw the trading volume jump to 4,38,381 shares. Company has a market cap of $1,006 M.

In a different news, on Apr 29, 2015, Thomas R Stanton (CEO) purchased 31,200 shares at $16.05 per share price. According to the SEC, on Apr 24, 2015, James E Matthews (director) sold 23,000 shares at $16.03 per share price.

ADTRAN Inc. is a global provider of networking and communications equipment. The Company’s solutions enable voice data video and Internet communications across a variety of network infrastructures. The Company operates through two segments: the Carrier Networks Division and the Enterprise Networks Division. The Carrier Networks Division offers broadband and optical infrastructure products and services used by service providers to aggregate transport and deliver voice data and video services to their customers’ premises and mobile network cell sites. The Enterprise Networks Division provides cloud connectivity solutions such as IP business gateways and access routers which provide business access to service provider networks and enterprise communications solutions which enable businesses to construct voice data and video networks at a single customer premises or among a distributed enterprise’s multiple sites.


Leave a Reply

ADTRAN - Is it time to Sell?

Top Brokerage Firms are advising their investors on ADTRAN. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.