Northland Securities analyst Tim Savageaux maintained a Hold rating on Adtran Inc (ADTN) today and set a price target of $13.50. The company’s shares closed yesterday at $12.13.
According to TipRanks.com, Savageaux is a 3-star analyst with an average return of 2.9% and a 52.4% success rate. Savageaux covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, DASAN Zhone Solutions Inc, and Applied Optoelectronics.
Currently, the analyst consensus on Adtran Inc is a Moderate Buy with an average price target of $16.83.
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Based on Adtran Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $5.05 million. In comparison, last year the company had a GAAP net loss of $7.67 million.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock.
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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.
