Array Digital Infrastructure (NYSE:AD) Rating Lowered to Sell at Wall Street Zen

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

Several other research firms have also recently weighed in on AD. Citigroup lowered their target price on Array Digital Infrastructure from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Monday. Raymond James Financial set a $53.00 price objective on shares of Array Digital Infrastructure in a research report on Monday. Wells Fargo & Company dropped their price objective on shares of Array Digital Infrastructure from $62.00 to $54.00 and set an “overweight” rating on the stock in a research note on Thursday, February 12th. Weiss Ratings reiterated a “sell (d)” rating on shares of Array Digital Infrastructure in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada lowered 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. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Array Digital Infrastructure currently has a consensus rating of “Hold” and a consensus price target of $55.00.

Array Digital Infrastructure Trading Up 1.3%

AD stock opened at $48.67 on Friday. Array Digital Infrastructure has a one year low of $44.03 and a one year high of $79.17. The firm’s 50-day moving average price is $51.71. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of 86.90 and a beta of 0.17. The company has a quick ratio of 0.65, a current ratio of 0.72 and a debt-to-equity ratio of 0.26.

Array Digital Infrastructure (NYSE:AD) last released 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 net margin of 2.51% and a return on equity of 4.89%. The business had revenue of $60.33 million for the quarter. Array Digital Infrastructure’s quarterly revenue was up 131.2% compared to the same quarter last year.

Hedge Funds Weigh In On Array Digital Infrastructure

Several institutional investors have recently bought and sold shares of AD. Dimensional Fund Advisors LP bought a new position in Array Digital Infrastructure in the 4th quarter worth approximately $120,237,000. Jericho Capital Asset Management L.P. bought a new stake in shares of Array Digital Infrastructure in the fourth quarter valued at approximately $97,366,000. Vanguard Group Inc. acquired a new stake in shares of Array Digital Infrastructure in the fourth quarter worth $76,634,000. Gamco Investors INC. ET AL bought a new position in Array Digital Infrastructure during the fourth quarter worth $51,720,000. Finally, Loomis Sayles & Co. L P acquired a new position in Array Digital Infrastructure during the 4th quarter valued at $40,842,000. 18.03% of the stock is currently owned by institutional investors.

About Array Digital Infrastructure

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.