ADTRAN (ADTN) is Reiterated by MKM Partners to Buy, Raises Price Target to $ 24

ADTRAN (ADTN) was Reiterated by MKM Partners to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 24 from a previous price target of $23 . MKM Partners advised their investors in a research report released on Apr 14, 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 .Northland Capital Downgraded ADTRAN on Apr 13, 2016 to ” Market Perform”, Price Target of the shares are set at $20.Company shares were Reiterated by MKM Partners on Mar 30, 2016 to “Buy”, Firm has raised the Price Target to $ 23 from a previous price target of $21 .

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 closed down -0.12 points or -0.61% at $19.61 with 2,80,019 shares getting traded on Monday. Post opening the session at $19.75, the shares hit an intraday low of $19.52 and an intraday high of $19.93 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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.


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