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

Array Digital Infrastructure (NYSE:AD) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday.

Several other research firms have also issued reports on AD. Weiss Ratings reissued a “sell (d)” rating on shares of Array Digital Infrastructure in a research note on Wednesday, January 21st. Wells Fargo & Company cut their price target on Array Digital Infrastructure from $62.00 to $54.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. Royal Bank Of Canada reduced their price target on Array Digital Infrastructure from $62.00 to $56.00 and set an “outperform” rating for the company in a report on Tuesday, November 25th. Raymond James Financial set a $53.00 price target on Array Digital Infrastructure in a research report on Monday, February 23rd. Finally, Citigroup dropped their price objective on Array Digital Infrastructure from $63.00 to $57.00 and set a “buy” rating on the stock in a 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 company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $55.00.

Array Digital Infrastructure Stock Down 0.6%

Shares of AD stock opened at $49.05 on Friday. The stock’s 50-day simple moving average is $51.24 and its 200-day simple moving average is $50.35. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market capitalization of $4.17 billion, a PE ratio of 87.59 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.

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

Hedge Funds Weigh In On Array Digital Infrastructure

Several institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada acquired a new stake in shares of Array Digital Infrastructure during the 4th quarter worth approximately $25,000. Quadrant Capital Group LLC acquired a new position in Array Digital Infrastructure in the fourth quarter valued at approximately $48,000. Empowered Funds LLC purchased a new position in Array Digital Infrastructure in the fourth quarter worth approximately $54,000. Harbour Investments Inc. purchased a new position in Array Digital Infrastructure in the fourth quarter worth approximately $61,000. Finally, Signaturefd LLC acquired a new stake in Array Digital Infrastructure during the fourth quarter worth $73,000. 18.03% of the stock is currently owned by institutional investors and hedge funds.

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.