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

Shares of Array Digital Infrastructure Inc. (NYSE:AD) have earned an average rating of “Hold” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $51.60.

Several brokerages recently issued reports on AD. Wall Street Zen lowered shares of Array Digital Infrastructure from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Raymond James Financial cut shares of Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a research note on Monday, May 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Array Digital Infrastructure in a research note on Thursday, June 11th. Royal Bank Of Canada cut their price objective on Array Digital Infrastructure from $52.00 to $40.00 and set a “sector perform” rating on the stock in a report on Friday, July 10th. Finally, JPMorgan Chase & Co. lowered their target price on Array Digital Infrastructure from $60.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th.

Array Digital Infrastructure Price Performance

Shares of AD stock opened at $35.36 on Monday. The business has a fifty day simple moving average of $38.53 and a 200 day simple moving average of $45.48. The company has a market cap of $3.05 billion, a P/E ratio of 5.70 and a beta of 0.26. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.36. Array Digital Infrastructure has a twelve month low of $33.71 and a twelve month high of $79.17.

Array Digital Infrastructure Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were issued a $11.00 dividend. The ex-dividend date was Thursday, June 11th.

Institutional Investors Weigh In On Array Digital Infrastructure

Institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue acquired a new position in Array Digital Infrastructure in the fourth quarter valued at $5,187,000. Aberdeen Group plc acquired a new stake in Array Digital Infrastructure during the 4th quarter worth about $15,528,000. Dimensional Fund Advisors LP grew its holdings in Array Digital Infrastructure by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,299,582 shares of the company’s stock worth $106,102,000 after acquiring an additional 57,198 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Array Digital Infrastructure by 423.0% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 99,990 shares of the company’s stock worth $4,614,000 after acquiring an additional 80,872 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Array Digital Infrastructure in the 4th quarter worth about $1,000,000. Institutional investors 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.