Array Digital Infrastructure Inc. (NYSE:AD) Given Average Recommendation of “Hold” by Analysts

Array Digital Infrastructure Inc. (NYSE:AD) has earned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $51.60.

AD has been the topic of several recent analyst reports. Royal Bank Of Canada dropped their price objective on Array Digital Infrastructure from $52.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Friday, July 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Array Digital Infrastructure in a research report on Thursday, June 11th. JPMorgan Chase & Co. dropped their price target on shares of Array Digital Infrastructure from $60.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 26th. Raymond James Financial cut Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a report on Monday, May 11th. Finally, Wall Street Zen downgraded Array Digital Infrastructure from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th.

Array Digital Infrastructure Stock Performance

Shares of AD opened at $34.94 on Monday. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 14.50 and a beta of 0.25. The business’s fifty day simple moving average is $40.08 and its two-hundred day simple moving average is $46.22. Array Digital Infrastructure has a 12 month low of $33.71 and a 12 month high of $79.17. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.36.

Array Digital Infrastructure Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were paid a $11.00 dividend. The ex-dividend date of this dividend was Thursday, June 11th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AD. Royal Bank of Canada bought a new position in shares of Array Digital Infrastructure during the 4th quarter valued at approximately $25,000. Public Employees Retirement System of Ohio bought a new stake in Array Digital Infrastructure during the 1st quarter worth approximately $33,000. Quadrant Capital Group LLC purchased a new position in Array Digital Infrastructure during the fourth quarter valued at approximately $48,000. Empowered Funds LLC purchased a new position in Array Digital Infrastructure during the fourth quarter valued at approximately $54,000. Finally, Harbour Investments Inc. bought a new position in shares of Array Digital Infrastructure in the fourth quarter worth approximately $61,000. 18.03% of the stock is owned by hedge funds and other institutional investors.

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.