Array Digital Infrastructure (NYSE:AD) Given New $54.00 Price Target at Wells Fargo & Company

Array Digital Infrastructure (NYSE:AD) had its price objective reduced by Wells Fargo & Company from $62.00 to $54.00 in a research report released on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on AD. Weiss Ratings reissued a “sell (d)” rating on shares of Array Digital Infrastructure in a research report on Wednesday, January 21st. Royal Bank Of Canada cut their target price on shares of 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. Wall Street Zen raised shares of Array Digital Infrastructure from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Citigroup raised their price target on shares of Array Digital Infrastructure from $37.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $57.67.

Array Digital Infrastructure Stock Up 2.2%

Shares of NYSE:AD opened at $50.53 on Thursday. The company has a market cap of $4.29 billion, a P/E ratio of 280.72 and a beta of 0.17. The firm’s 50 day simple moving average is $51.84. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.65 and a current ratio of 0.65. Array Digital Infrastructure has a twelve month low of $44.03 and a twelve month high of $79.17.

Array Digital Infrastructure Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. bought a new position in Array Digital Infrastructure during the fourth quarter worth about $910,000. Aberdeen Group plc acquired a new position in shares of Array Digital Infrastructure in the 4th quarter worth approximately $15,528,000. Harbor Capital Advisors Inc. acquired a new position in shares of Array Digital Infrastructure in the 4th quarter worth approximately $99,000. Signaturefd LLC bought a new position in shares of Array Digital Infrastructure during the 4th quarter worth approximately $73,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Array Digital Infrastructure during the 4th quarter worth approximately $5,187,000. 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.