Royal Bank Of Canada Has Lowered Expectations for Array Digital Infrastructure (NYSE:AD) Stock Price

Array Digital Infrastructure (NYSE:AD) had its price objective dropped by research analysts at Royal Bank Of Canada from $52.00 to $40.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 15.12% from the company’s current price.

Several other research firms have also commented on AD. JPMorgan Chase & Co. lowered their price objective on Array Digital Infrastructure from $60.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Array Digital Infrastructure in a research note on Thursday, June 11th. Wall Street Zen downgraded shares of Array Digital Infrastructure from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Raymond James Financial lowered shares of Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a research report on Monday, May 11th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $51.60.

Array Digital Infrastructure Stock Up 0.0%

Shares of AD stock opened at $34.74 on Friday. The stock has a 50 day moving average of $45.24 and a 200 day moving average of $48.35. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.36. The stock has a market cap of $3.00 billion, a P/E ratio of 14.42 and a beta of 0.25. Array Digital Infrastructure has a twelve month low of $34.37 and a twelve month high of $79.17.

Institutional Trading of Array Digital Infrastructure

Institutional investors and hedge funds have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. grew its stake in Array Digital Infrastructure by 17.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 24,919 shares of the company’s stock valued at $904,000 after acquiring an additional 3,718 shares in the last quarter. Weiss Asset Management LP acquired a new position in shares of Array Digital Infrastructure during the 1st quarter worth approximately $206,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Array Digital Infrastructure by 423.0% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 99,990 shares of the company’s stock valued at $4,614,000 after purchasing an additional 80,872 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Array Digital Infrastructure in the first quarter valued at approximately $33,000. Finally, Inceptionr LLC purchased a new stake in shares of Array Digital Infrastructure in the first quarter valued at approximately $295,000. Hedge funds and other institutional investors own 18.03% of the company’s stock.

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.