Cowen & Co. Reaffirms Their Hold Rating on Adtran

By Jason Carr

In a report released yesterday, Paul Silverstein from Cowen & Co. reiterated a Hold rating on Adtran (NASDAQ: ADTN), with a price target of $16. The company’s shares closed yesterday at $19.35, close to its 52-week low of $18.65.

According to TipRanks.com, Silverstein is a 5-star analyst with an average return of 33.1% and a 56.1% success rate. Silverstein covers the Consumer Goods sector, focusing on stocks such as Ribbon Communications Inc, Xtera Communications Inc, and Applied Optoelectronics.

Adtran has an analyst consensus of Moderate Buy, with a price target consensus of $20.50.

Based on Adtran’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $185 million and quarterly net profit of $15.9 million. In comparison, last year the company earned revenue of $169 million and had a net profit of $12.42 million.

Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock.

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ADTRAN, Inc. is engaged in the provision of networking and communications equipment. It operates through following business segments: Carrier Networks and Enterprise Networks.