Array Digital Infrastructure Inc. (NYSE:AD) Receives Average Rating of “Hold” from Brokerages

Array Digital Infrastructure Inc. (NYSE:AD) has been given a consensus recommendation of “Hold” by the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $54.00.

A number of research firms recently weighed in on AD. Royal Bank Of Canada lowered shares of Array Digital Infrastructure from an “outperform” rating to a “sector perform” rating and set a $52.00 price target for the company. in a report on Tuesday, May 12th. Raymond James Financial lowered shares of Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a report on Monday, May 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Array Digital Infrastructure in a research report on Thursday, June 11th. Wall Street Zen downgraded Array Digital Infrastructure from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, JPMorgan Chase & Co. dropped their target price on Array Digital Infrastructure from $60.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 26th.

Array Digital Infrastructure Trading Down 0.3%

AD opened at $34.78 on Thursday. The firm’s 50 day moving average is $45.51 and its 200-day moving average is $48.47. Array Digital Infrastructure has a 52-week low of $34.37 and a 52-week high of $79.17. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $3.00 billion, a P/E ratio of 14.43 and a beta of 0.25.

Array Digital Infrastructure Announces Dividend

The firm also recently announced a special dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were given a $11.00 dividend. The ex-dividend date of this dividend was Thursday, June 11th.

Institutional Investors Weigh In On Array Digital Infrastructure

A number of institutional investors have recently modified their holdings of AD. Royal Bank of Canada bought a new position in shares of Array Digital Infrastructure in the 4th quarter worth about $25,000. Public Employees Retirement System of Ohio acquired a new stake in Array Digital Infrastructure during the first quarter worth about $33,000. Quadrant Capital Group LLC bought a new position in Array Digital Infrastructure in the fourth quarter worth about $48,000. Empowered Funds LLC bought a new position in Array Digital Infrastructure in the fourth quarter worth about $54,000. Finally, Harbour Investments Inc. acquired a new position in Array Digital Infrastructure in the fourth quarter valued at approximately $61,000. Institutional investors and hedge funds own 18.03% of the company’s stock.

Array Digital Infrastructure Company Profile

United States Cellular Corporation provides wireless telecommunications services in the United States. The company offers wireless services, including voice, messaging, and data services. It also provides devices, such as smartphones and other handsets, tablets, wearables, mobile hotspots, routers, and internet of things devices. In addition, the company offers various accessories, such as cases, screen protectors, chargers, and memory cards; and consumer electronics, including audio, home automation, and networking products; as well as offers option to purchase devices and accessories under installment contracts.