Array Digital Infrastructure (NYSE:AD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Array Digital Infrastructure (NYSE:AD) from a sell rating to a hold rating in a research report released on Sunday morning.

Several other analysts have also commented on the stock. Citigroup cut their target price on shares of 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. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Array Digital Infrastructure in a report on Wednesday, January 21st. Wells Fargo & Company cut their price objective on Array Digital Infrastructure from $62.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, February 12th. Royal Bank Of Canada reduced their price objective on Array Digital Infrastructure from $62.00 to $56.00 and set an “outperform” rating for the company in a research note on Tuesday, November 25th. Finally, Raymond James Financial set a $53.00 target price on Array Digital Infrastructure in a research report on Monday, February 23rd. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Array Digital Infrastructure has an average rating of “Hold” and a consensus price target of $54.50.

Array Digital Infrastructure Trading Down 0.5%

Shares of AD stock opened at $48.82 on Friday. The stock has a 50-day simple moving average of $51.05 and a 200 day simple moving average of $50.24. The stock has a market capitalization of $4.15 billion, a P/E ratio of 87.18 and a beta of 0.18. Array Digital Infrastructure has a fifty-two week low of $44.03 and a fifty-two week high of $79.17. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.26.

Array Digital Infrastructure (NYSE:AD) last issued its quarterly earnings results on Friday, February 20th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.30 by $0.18. Array Digital Infrastructure had a net margin of 2.51% and a return on equity of 4.89%. The firm had revenue of $60.33 million for the quarter. The company’s revenue was up 131.2% compared to the same quarter last year.

Array Digital Infrastructure Dividend Announcement

The company also recently declared a special dividend, which was paid on Monday, February 2nd. Investors of record on Friday, January 23rd were given a $10.25 dividend. The ex-dividend date was Friday, January 23rd.

Institutional Trading of Array Digital Infrastructure

Hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP purchased a new position in shares of Array Digital Infrastructure during the fourth quarter valued at $120,237,000. Jericho Capital Asset Management L.P. purchased a new position in Array Digital Infrastructure during the 4th quarter valued at about $97,366,000. Vanguard Group Inc. purchased a new position in Array Digital Infrastructure during the 4th quarter valued at about $76,634,000. Gamco Investors INC. ET AL acquired a new position in shares of Array Digital Infrastructure in the 4th quarter valued at about $51,720,000. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of Array Digital Infrastructure in the fourth quarter worth approximately $40,842,000. Hedge funds and other institutional investors own 18.03% of the company’s stock.

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.