Brokerages Set Array Digital Infrastructure Inc. (NYSE:AD) Target Price at $47.40

Shares of Array Digital Infrastructure Inc. (NYSE:AD) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $47.40.

Several equities research analysts recently issued reports on the company. Raymond James Financial downgraded Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a research note on Monday, May 11th. Weiss Ratings downgraded shares of Array Digital Infrastructure from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, August 20th. Royal Bank Of Canada cut their price objective on Array Digital Infrastructure from $52.00 to $40.00 and set a “sector perform” rating for the company in a report on Friday, July 10th. Wall Street Zen lowered Array Digital Infrastructure from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Citigroup dropped their price objective on Array Digital Infrastructure from $45.02 to $45.00 and set a “buy” rating on the stock in a report on Thursday, August 13th.

Institutional Inflows and Outflows

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

Array Digital Infrastructure Price Performance

NYSE AD opened at $38.87 on Friday. Array Digital Infrastructure has a 12 month low of $33.71 and a 12 month high of $60.82. The firm has a market capitalization of $3.36 billion, a PE ratio of 6.27 and a beta of 0.28. The company’s 50 day simple moving average is $35.45 and its 200 day simple moving average is $43.58. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.95 and a quick ratio of 0.95.

Array Digital Infrastructure (NYSE:AD) last announced its quarterly earnings data on Friday, August 7th. The company reported $4.15 earnings per share for the quarter, beating the consensus estimate of $0.27 by $3.88. The business had revenue of $54.07 million during the quarter. Array Digital Infrastructure had a return on equity of 8.52% and a net margin of 250.79%. As a group, equities research analysts forecast that Array Digital Infrastructure will post 0.8 EPS for the current fiscal year.

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.