Array Digital Infrastructure Inc. (NYSE:AD) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Array Digital Infrastructure Inc. (NYSE:AD) have been assigned an average recommendation of “Moderate Buy” from the six research firms that are covering the company, 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 1-year price target among brokerages that have covered the stock in the last year is $47.40.

A number of research analysts have weighed in on the stock. Weiss Ratings lowered shares of Array Digital Infrastructure from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, August 20th. JPMorgan Chase & Co. dropped their price target on Array Digital Infrastructure from $54.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, August 19th. Royal Bank Of Canada cut their price target 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. Finally, Citigroup lowered their price objective on Array Digital Infrastructure from $45.02 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AD. Engineers Gate Manager LP boosted its position in shares of Array Digital Infrastructure by 132.1% during the 2nd quarter. Engineers Gate Manager LP now owns 29,603 shares of the company’s stock valued at $1,073,000 after acquiring an additional 16,851 shares during the last quarter. Waverly Advisors LLC increased its position in Array Digital Infrastructure by 10.5% during the second quarter. Waverly Advisors LLC now owns 21,411 shares of the company’s stock worth $776,000 after purchasing an additional 2,037 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Array Digital Infrastructure during the second quarter worth about $411,000. Navellier & Associates Inc. raised its stake in Array Digital Infrastructure by 41.3% during the second quarter. Navellier & Associates Inc. now owns 11,002 shares of the company’s stock worth $399,000 after purchasing an additional 3,213 shares during the period. Finally, Bank of America Corp DE acquired a new position in Array Digital Infrastructure in the 2nd quarter valued at about $26,853,000. Hedge funds and other institutional investors own 18.03% of the company’s stock.

Array Digital Infrastructure Price Performance

Array Digital Infrastructure stock opened at $34.51 on Tuesday. The company has a fifty day simple moving average of $35.97 and a 200-day simple moving average of $42.25. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 5.57 and a beta of 0.28. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.52. Array Digital Infrastructure has a 52-week low of $33.71 and a 52-week high of $60.82.

Array Digital Infrastructure (NYSE:AD) last posted its quarterly earnings results on Friday, August 7th. The company reported $4.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $3.88. Array Digital Infrastructure had a net margin of 250.79% and a return on equity of 8.52%. The firm had revenue of $54.07 million for the quarter. On average, equities analysts anticipate that Array Digital Infrastructure will post 1.15 EPS for the current fiscal year.

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.