Array Digital Infrastructure Inc. (NYSE:AD) Given Average Recommendation of “Hold” by Brokerages

Array Digital Infrastructure Inc. (NYSE:AD) has been assigned a consensus recommendation of “Hold” from the six analysts that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $54.00.

A number of equities analysts have issued reports on the company. Citigroup cut their price target on Array Digital Infrastructure from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. 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 research note on Tuesday, May 12th. Wall Street Zen downgraded Array Digital Infrastructure from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Raymond James Financial downgraded Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a research note on Monday, May 11th. Finally, Wells Fargo & Company cut their price target on Array Digital Infrastructure from $62.00 to $54.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th.

Hedge Funds Weigh In On Array Digital Infrastructure

A number of hedge funds have recently added to or reduced their stakes in AD. Hennion & Walsh Asset Management Inc. acquired a new position in Array Digital Infrastructure during the 4th quarter valued at about $910,000. Aberdeen Group plc bought a new position in shares of Array Digital Infrastructure during the 4th quarter worth approximately $15,528,000. Harbor Capital Advisors Inc. bought a new position in shares of Array Digital Infrastructure during the 4th quarter worth approximately $99,000. Signaturefd LLC bought a new position in shares of Array Digital Infrastructure during the 4th quarter worth approximately $73,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Array Digital Infrastructure during the 4th quarter worth approximately $5,187,000. Institutional investors and hedge funds own 18.03% of the company’s stock.

Array Digital Infrastructure Stock Performance

Shares of AD opened at $51.02 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a 50-day moving average of $48.67 and a 200-day moving average of $49.62. The company has a market cap of $4.41 billion, a PE ratio of 21.17 and a beta of 0.23. Array Digital Infrastructure has a one year low of $44.03 and a one year high of $79.17.

Array Digital Infrastructure (NYSE:AD) last released its quarterly 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 6.69% and a net margin of 19.32%.The company’s quarterly revenue was up 131.2% on a year-over-year basis. On average, equities research analysts predict that Array Digital Infrastructure will post 0.97 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.