Array Digital Infrastructure (NYSE:AD) Price Target Cut to $54.00 by Analysts at Royal Bank Of Canada

Array Digital Infrastructure (NYSE:AD) had its price target cut by investment analysts at Royal Bank Of Canada from $60.00 to $54.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 13.09% from the company’s current price.

A number of other analysts have also issued reports on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Array Digital Infrastructure in a research note on Wednesday, January 21st. Wall Street Zen upgraded shares of Array Digital Infrastructure from a “sell” rating to a “hold” rating in a report on Sunday. Raymond James Financial set a $53.00 target price on Array Digital Infrastructure in a research note on Monday, February 23rd. Citigroup reduced 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. Finally, Wells Fargo & Company cut their target price on Array Digital Infrastructure from $62.00 to $54.00 and set an “overweight” rating on the stock in a research report on Thursday, February 12th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Array Digital Infrastructure currently has an average rating of “Hold” and a consensus price target of $54.50.

Array Digital Infrastructure Stock Down 2.6%

NYSE:AD traded down $1.28 during mid-day trading on Monday, hitting $47.75. The company had a trading volume of 16,202 shares, compared to its average volume of 284,244. The business has a fifty day simple moving average of $51.24 and a 200-day simple moving average of $50.33. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 85.27 and a beta of 0.18. Array Digital Infrastructure has a 1 year low of $44.03 and a 1 year high of $79.17. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.26.

Array Digital Infrastructure (NYSE:AD) last posted its earnings results on Friday, February 20th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.18. The business had revenue of $60.33 million during the quarter. Array Digital Infrastructure had a return on equity of 4.89% and a net margin of 2.51%.The company’s quarterly revenue was up 131.2% compared to the same quarter last year.

Institutional Trading of Array Digital Infrastructure

Institutional investors and hedge funds have recently bought and sold shares of the company. Gamco Investors INC. ET AL bought a new stake in shares of Array Digital Infrastructure in the 4th quarter valued at approximately $51,720,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Array Digital Infrastructure in the fourth quarter worth $1,000,000. Vanguard Group Inc. bought a new stake in Array Digital Infrastructure during the fourth quarter valued at $76,634,000. Arizona State Retirement System acquired a new stake in shares of Array Digital Infrastructure during the fourth quarter worth $240,000. Finally, Carlson Capital L.P. bought a new position in shares of Array Digital Infrastructure in the 4th quarter worth about $504,000. Institutional investors and hedge funds own 18.03% of the company’s stock.

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.