Northland Securities analyst Tim Savageaux maintained a Buy rating on Adtran (ADTN) today and set a price target of $16.00. The company’s shares closed last Tuesday at $11.30.
According to TipRanks.com, Savageaux is a 4-star analyst with an average return of 8.3% and a 51.9% success rate. Savageaux covers the Technology sector, focusing on stocks such as Applied Optoelectronics, Communications Systems, and CommScope Holding.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Adtran with a $16.00 average price target.
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Based on Adtran’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $129 million and net profit of $752K. In comparison, last year the company earned revenue of $156 million and had a net profit of $4 million.
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ADTRAN, Inc. engages in the provision of networking and communications equipment. It operates through the Network Solutions and Services and Support business segment. The Network Solutions segment includes hardware products and next-generation virtualized solutions used in service provider or business networks, as well as prior-generation products. The Services and Support segment offers ProCloud managed services, network installation, engineering and maintenance services, and fee-based technical support and equipment repair/replacement plans. The company was founded by Mark C. Smith in November 1985 and is headquartered in Huntsville, AL.
