Analysts Set Array Digital Infrastructure Inc. (NYSE:AD) PT at $60.33

Array Digital Infrastructure Inc. (NYSE:AD) has earned an average recommendation of “Hold” from the five research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $60.3333.

Several brokerages have recently issued reports on AD. Royal Bank Of Canada cut their price target on shares of Array Digital Infrastructure from $62.00 to $56.00 and set an “outperform” rating on the stock in a report on Tuesday, November 25th. Citigroup increased their target price on Array Digital Infrastructure from $37.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Wall Street Zen upgraded Array Digital Infrastructure from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Array Digital Infrastructure in a research report on Wednesday, January 21st. Finally, Wells Fargo & Company reduced their price objective on Array Digital Infrastructure from $82.00 to $62.00 and set an “overweight” rating for the company in a report on Thursday, November 6th.

Institutional Investors Weigh In On Array Digital Infrastructure

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC bought a new position in Array Digital Infrastructure in the 4th quarter worth $54,000. Harbour Investments Inc. purchased a new stake in Array Digital Infrastructure during the fourth quarter valued at $61,000. Signaturefd LLC purchased a new stake in Array Digital Infrastructure during the 4th quarter valued at $73,000. Harbor Capital Advisors Inc. bought a new stake in Array Digital Infrastructure in the fourth quarter worth about $99,000. Finally, Deutsche Bank AG bought a new stake in Array Digital Infrastructure during the 4th quarter valued at about $99,000. Institutional investors own 18.03% of the company’s stock.

Array Digital Infrastructure Price Performance

Shares of Array Digital Infrastructure stock opened at $49.38 on Monday. Array Digital Infrastructure has a 1 year low of $44.03 and a 1 year high of $79.17. The stock has a 50-day moving average price of $51.82. The company has a market cap of $4.20 billion, a PE ratio of 274.32 and a beta of 0.17. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.26.

Array Digital Infrastructure Announces Dividend

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

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.