Array Digital Infrastructure Inc. (NYSE:AD) Receives $55.00 Average Price Target from Analysts

Array Digital Infrastructure Inc. (NYSE:AD) has earned a consensus recommendation of “Hold” from the five analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $55.00.

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada dropped their price objective on Array Digital Infrastructure from $62.00 to $56.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 25th. Citigroup lowered their target price on shares of Array Digital Infrastructure from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Raymond James Financial set a $53.00 price target on shares of Array Digital Infrastructure in a research report on Monday, February 23rd. Wall Street Zen upgraded shares of Array Digital Infrastructure from a “sell” rating to a “hold” rating in a research note on Sunday. Finally, Wells Fargo & Company decreased their price objective on shares of 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.

Hedge Funds Weigh In On Array Digital Infrastructure

A number of large investors have recently made changes to their positions in AD. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Array Digital Infrastructure in the fourth quarter valued at about $910,000. Aberdeen Group plc acquired a new stake in Array Digital Infrastructure in the 4th quarter worth about $15,528,000. Harbor Capital Advisors Inc. bought a new stake in Array Digital Infrastructure in the 4th quarter valued at about $99,000. Signaturefd LLC bought a new stake in Array Digital Infrastructure in the 4th quarter valued at about $73,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Array Digital Infrastructure during the 4th quarter worth approximately $5,187,000. Institutional investors own 18.03% of the company’s stock.

Array Digital Infrastructure Trading Down 0.6%

NYSE:AD opened at $49.05 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $4.17 billion, a price-to-earnings ratio of 87.59 and a beta of 0.18. The business’s 50-day moving average price is $51.24 and its two-hundred day moving average price is $50.33. Array Digital Infrastructure has a 1-year low of $44.03 and a 1-year high of $79.17.

Array Digital Infrastructure (NYSE:AD) last posted its earnings results on Friday, February 20th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.18. Array Digital Infrastructure had a return on equity of 4.89% and a net margin of 2.51%.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 firm also recently declared a special dividend, which was paid on Monday, February 2nd. Investors of record on Friday, January 23rd were paid a $10.25 dividend. 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.