Royal Bank Of Canada Begins Coverage on Array Digital Infrastructure (NYSE:AD)

Equities researchers at Royal Bank Of Canada initiated coverage on shares of Array Digital Infrastructure (NYSE:AD) in a research report issued on Monday, Marketbeat reports. The brokerage set an “outperform” rating and a $62.00 price target on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 21.81% from the company’s current price.

A number of other analysts have also weighed in on AD. Zacks Research upgraded shares of Array Digital Infrastructure to a “hold” rating in a research report on Tuesday, August 12th. Wall Street Zen lowered shares of Array Digital Infrastructure from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Array Digital Infrastructure in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Array Digital Infrastructure has a consensus rating of “Hold” and a consensus target price of $62.00.

Array Digital Infrastructure Price Performance

Shares of NYSE:AD opened at $50.90 on Monday. The company has a 50 day moving average price of $50.76. The company has a market capitalization of $4.38 billion, a PE ratio of -169.66 and a beta of 0.20. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.87 and a quick ratio of 1.71. Array Digital Infrastructure has a 1 year low of $47.03 and a 1 year high of $79.17.

Array Digital Infrastructure (NYSE:AD) last announced its quarterly earnings data on Friday, November 1st. The company reported $0.26 earnings per share (EPS) for the quarter. The business had revenue of $922.00 million for the quarter. Array Digital Infrastructure had a negative net margin of 0.68% and a positive return on equity of 1.67%.

Insiders Place Their Bets

In other news, CEO Douglas W. Chambers sold 93,300 shares of Array Digital Infrastructure stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $75.77, for a total transaction of $7,069,341.00. Following the transaction, the chief executive officer owned 17,600 shares in the company, valued at approximately $1,333,552. The trade was a 84.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harry J. Harczak, Jr. sold 1,960 shares of Array Digital Infrastructure stock in a transaction on Monday, August 18th. The stock was sold at an average price of $76.20, for a total transaction of $149,352.00. Following the transaction, the director owned 19,374 shares in the company, valued at approximately $1,476,298.80. This trade represents a 9.19% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is currently owned by insiders.

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.