Are ADTRAN (NASDAQ:ADTN) Shares a ‘Buy’ Now? JP Morgan Has Upgraded The Stock

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ADTRAN (NASDAQ:ADTN) Stock Upgrade

In an analyst note revealed to investors and clients on Thursday, 17 December, equity analysts at the JP Morgan equity research division lifted shares of ADTRAN (NASDAQ:ADTN) stock from a “Neutral” to a respectable “Overweight” rating.

From a total of 7 analysts covering Adtran Inc. (NASDAQ:ADTN) stock, 1 rate it a ”Buy”, 1 a “Sell”, and 10 a ”Hold”. This means that 8% of the ratings are positive. The highest target price is $25 while the lowest target price is $11. The mean of all analyst targets is $16.64 with a -7.19% below today’s ($17.67) stock price. Adtran Inc. was the topic of 7 analyst reports since September 9, 2015 according to the firm StockzIntelligence Inc. M Partners maintained shares on October 15 with “Neutral” rating. Drexel Hamilton initiated ADTN stock in a recent report from September 9 with “Hold” rating.

Approximately 555,614 shares of stock traded hands or 67.70% up from the average. ADTRAN, Inc. (NASDAQ:ADTN) has risen 1.08% since May 14, 2015 and is uptrending. It has outperformed by 3.34% the S&P500.

The overall sentiment of institutions has decreased to 0.89 in Q2 2015. Its down 0.21, from 1.1 in 2015Q2. The ratio turned negative, as 15 institutions have sold all the shares of ADTRAN, Inc. that they owned while 50 funds have taken shares off the table. 11 funds have purchased shares for the first time while 47 added to their positions. These institutions now hold 56.07 million shares or 16.46% more than the 48.14 million shares they owned in 2015Q2.

The Fund Tieton Capital Management Llc currently is holding shares equating to 3.48% of its total portfolio in ADTRAN, Inc. representing a total of 255,074 shares. Another fund,Horrell Capital Management Inc., is holding a total of 315,250 shares equating to 2.92% of their holdings. Additionally, Van Berkom & Associates Inc. has a 2.43 million share stake in ADTRAN, Inc. which represents 1.77% of their total portfolio. The Fund, Fuller & Thaler Asset Management Inc., based out of California, has also built up a stake in the stock, which represents a total of 0.75% of their total portfolio. Finally Deprince Race & Zollo Inc, a fund which is based in the state of Florida reported a total holdings of 2.50 million shares.

ADTRAN, Inc. is a global provider of networking and communications equipment. The company has a market cap of $831.17 million. The Company’s solutions enable voice, data, video and Internet communications across a variety of network infrastructures. It has 41.64 P/E ratio. The Firm operates through two divisions: the Carrier Networks Division and the Enterprise Networks Division.

According to Zacks Investment Research, “Adtran Inc. is a leading global provider of networking & communications equipment, with an eighteen year history of profitability & a portfolio of more than one thousand four hundred solutions for use in the last mile of today’s telecommunications networks. Widely deployed by both carriers & small & midsize businesses, Adtran solutions enable voice, data, video, and Internet communications across copper, fiber, & wireless network infrastructures. ADTRAN solutions are currently in use by every major U.S. service provider & many global ones, as well as by thousands of public, private and governmental organizations worldwide. It’s product portfolio consists of different high-speed network access devices. In both service provider & enterprise networks, these products are used primarily in the last mile, or local loop, of the network, & in local area networks on the customer premises. The last mile is that segment of the network that connects end-user subscribers to a service provider’s closest facility.”

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