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 recommendation of “Hold” from the seven analysts that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $54.00.

A number of equities research analysts have issued reports on the company. Raymond James Financial cut Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a research note on Monday, May 11th. Royal Bank Of Canada lowered shares of 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 report on Tuesday, May 12th. JPMorgan Chase & Co. dropped their price objective on shares of Array Digital Infrastructure from $60.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, May 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Array Digital Infrastructure in a research report on Thursday, June 11th. Finally, Wall Street Zen lowered shares of Array Digital Infrastructure from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th.

Array Digital Infrastructure Price Performance

Shares of AD opened at $34.78 on Thursday. The company has a market cap of $3.00 billion, a P/E ratio of 14.43 and a beta of 0.25. The stock has a fifty day moving average price of $45.51 and a 200 day moving average price of $48.47. 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 has a 12 month low of $34.37 and a 12 month high of $79.17.

Array Digital Infrastructure Dividend Announcement

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

Institutional Investors Weigh In On Array Digital Infrastructure

Several institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada bought a new position in shares of Array Digital Infrastructure in the fourth quarter valued at approximately $25,000. Public Employees Retirement System of Ohio acquired a new position in shares of Array Digital Infrastructure during the first quarter valued at approximately $33,000. Quadrant Capital Group LLC bought a new stake in Array Digital Infrastructure during the fourth quarter worth approximately $48,000. Empowered Funds LLC bought a new stake in Array Digital Infrastructure during the fourth quarter worth approximately $54,000. Finally, Harbour Investments Inc. acquired a new stake in Array Digital Infrastructure in the fourth quarter worth approximately $61,000. Institutional investors and hedge funds 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.