Array Digital Infrastructure Inc. (NYSE:AD) Receives $54.50 Average Target Price from Analysts

Array Digital Infrastructure Inc. (NYSE:AD) has received an average rating of “Moderate Buy” from the five analysts that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $54.50.

Several analysts have recently commented on AD shares. Royal Bank Of Canada decreased their target price on Array Digital Infrastructure from $60.00 to $54.00 and set an “outperform” rating on the stock in a report on Monday, March 9th. Wall Street Zen upgraded Array Digital Infrastructure from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Raymond James Financial set a $53.00 target price on Array Digital Infrastructure in a report on Monday, February 23rd. Wells Fargo & Company decreased their price target on Array Digital Infrastructure from $62.00 to $54.00 and set an “overweight” rating on the stock in a report on Thursday, February 12th. Finally, Weiss Ratings upgraded Array Digital Infrastructure from a “sell (d)” rating to a “hold (c)” rating in a report on Monday, March 16th.

Array Digital Infrastructure Price Performance

Shares of AD stock opened at $48.03 on Friday. The stock’s fifty day moving average is $48.26 and its 200-day moving average is $49.54. 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 stock has a market capitalization of $4.15 billion, a PE ratio of 85.78 and a beta of 0.17. Array Digital Infrastructure has a 52 week low of $44.03 and a 52 week high of $79.17.

Array Digital Infrastructure (NYSE:AD) last announced its earnings results on Friday, February 20th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.30 by $0.18. The company had revenue of $60.33 million for the quarter. Array Digital Infrastructure had a return on equity of 4.89% and a net margin of 2.51%.The business’s revenue was up 131.2% compared to the same quarter last year. Equities research analysts expect that Array Digital Infrastructure will post 5.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Array Digital Infrastructure

Hedge funds have recently added to or reduced their stakes in the company. Aberdeen Group plc bought a new position in Array Digital Infrastructure in the fourth quarter valued at about $15,528,000. State of Alaska Department of Revenue bought a new position in Array Digital Infrastructure in the fourth quarter valued at about $5,187,000. Welch Group LLC bought a new position in Array Digital Infrastructure in the fourth quarter valued at about $590,000. Hennion & Walsh Asset Management Inc. bought a new position in Array Digital Infrastructure in the fourth quarter valued at about $910,000. Finally, Signaturefd LLC bought a new position in Array Digital Infrastructure in the fourth quarter valued at about $73,000. Institutional investors 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.