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

Shares of Array Digital Infrastructure Inc. (NYSE:AD) have received an average rating of “Hold” from the six brokerages that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $54.00.

A number of analysts have weighed in on the company. Citigroup decreased their price target on Array Digital Infrastructure from $63.00 to $57.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Wells Fargo & Company decreased their price target on Array Digital Infrastructure from $62.00 to $54.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. Royal Bank Of Canada downgraded 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 downgraded Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a report on Monday, May 11th. Finally, Weiss Ratings upgraded Array Digital Infrastructure from a “sell (d)” rating to a “hold (c)” rating in a report on Monday, March 16th.

Array Digital Infrastructure Stock Performance

Shares of Array Digital Infrastructure stock opened at $51.02 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $48.67 and a two-hundred day moving average price of $49.62. Array Digital Infrastructure has a 1-year low of $44.03 and a 1-year high of $79.17. The company has a market cap of $4.41 billion, a P/E ratio of 21.17 and a beta of 0.23.

Array Digital Infrastructure (NYSE:AD) last issued its quarterly earnings results on Friday, February 20th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.18. Array Digital Infrastructure had a return on equity of 6.69% and a net margin of 19.32%.The firm had revenue of $60.33 million during the quarter. The company’s quarterly revenue was up 131.2% on a year-over-year basis. As a group, analysts anticipate that Array Digital Infrastructure will post 0.97 EPS for the current year.

Institutional Trading of Array Digital Infrastructure

Several large investors have recently made changes to their positions in AD. Royal Bank of Canada acquired a new stake in shares of Array Digital Infrastructure in the 4th quarter valued at about $25,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Array Digital Infrastructure in the 1st quarter valued at about $33,000. Quadrant Capital Group LLC acquired a new stake in shares of Array Digital Infrastructure in the 4th quarter valued at about $48,000. Empowered Funds LLC acquired a new stake in shares of Array Digital Infrastructure in the 4th quarter valued at about $54,000. Finally, Harbour Investments Inc. acquired a new stake in shares of Array Digital Infrastructure in the 4th quarter valued at about $61,000. 18.03% of the stock is currently owned by institutional investors and hedge funds.

About Array Digital Infrastructure

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.