Who doesn’t love a bargain? Buying quality for a low price is one of the thrills of the market system – and that applies to stock markets as well. The trick is knowing which rock-bottom stocks are the right ones to buy.
Plenty of stocks are priced low, and bargain-hunting investors need to find the ones whose fundamentals are sound. The sheer volume of stocks, and the reams of data they produce, makes that difficult – but Wall Street analysts make their living by taking deep dives behind the scenes of the stock market, and their recommendations are always worth a read.
Using the analyst reviews as a guide and backing them up with the latest data from TipRanks, we’ve picked out two stocks that should attract the interest of bargain-minded investors. Both stocks hold ‘Strong Buy’ ratings from the analysts, and both are showing significant losses over the past year, on the order of 50% or more. Let’s take a closer look.
ADTRAN, Inc. (ADTN)
Let’s start with ADTRAN, a company based in Alabama that offers ‘open, disaggregated networking and communications solutions’ on a global scale. ADTRAN’s product range encompasses voice, data, video, and internet communications solutions, all adaptable to existing network infrastructures. Collaborating with service providers worldwide, the company facilitates scalable management of services, linking individuals, locations, and devices.
ADTRAN maintains offices in the UK, Europe, the Middle East, and Australia, catering to millions of customers in governmental and private sectors. The company’s portfolio covers network infrastructure, fiber access, aggregation, open optical networking, residential and business solutions, cloud software, as well as services and support.
Shares in ADTRAN are down 59% so far this year, with a series of disappointing earnings results not helping its case, as happened in the recently released Q2 print. The 2Q23 numbers showed a top line of $327.4 million, for a 90% y/y increase – but missing the forecast by $2.3 million. Looking ahead, ADTRAN anticipates 3Q23 revenue to range…