Array Digital Infrastructure Inc. (NYSE:AD) Receives $54.00 Average PT from Analysts

Shares of Array Digital Infrastructure Inc. (NYSE:AD) have earned an average rating of “Hold” from the seven analysts that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $54.00.

Several analysts have recently issued reports on AD shares. Royal Bank Of Canada cut Array Digital Infrastructure from an “outperform” rating to a “sector perform” rating and set a $52.00 price objective on the stock. in a report on Tuesday, May 12th. Wall Street Zen lowered Array Digital Infrastructure from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings restated a “hold (c)” rating on shares of Array Digital Infrastructure in a report on Thursday, June 11th. Citigroup decreased their price target on Array Digital Infrastructure from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Finally, Raymond James Financial lowered Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a report on Monday, May 11th.

Institutional Trading of Array Digital Infrastructure

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada purchased a new stake in Array Digital Infrastructure during the 4th quarter valued at $25,000. Public Employees Retirement System of Ohio purchased a new stake in Array Digital Infrastructure during the 1st quarter valued at $33,000. Quadrant Capital Group LLC purchased a new stake in Array Digital Infrastructure during the 4th quarter valued at $48,000. Empowered Funds LLC purchased a new stake in Array Digital Infrastructure during the 4th quarter valued at $54,000. Finally, Harbour Investments Inc. purchased a new stake in Array Digital Infrastructure during the 4th quarter valued at $61,000. Hedge funds and other institutional investors own 18.03% of the company’s stock.

Array Digital Infrastructure Stock Down 0.1%

Shares of AD opened at $38.83 on Friday. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 16.11 and a beta of 0.22. Array Digital Infrastructure has a 1 year low of $38.40 and a 1 year high of $79.17. The business’s 50 day simple moving average is $48.78 and its 200-day simple moving average is $49.71. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.03 and a quick ratio of 1.03.

Array Digital Infrastructure Dividend Announcement

The business also recently declared a special dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 11th will be issued a dividend of $11.00 per share. The ex-dividend date is Thursday, June 11th.

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.