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

Shares of Array Digital Infrastructure Inc. (NYSE:AD) have been given a consensus rating of “Hold” by the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $54.00.

Several brokerages have recently issued reports on AD. Wall Street Zen downgraded Array Digital Infrastructure from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded Array Digital Infrastructure from a “sell (d)” rating to a “hold (c)” rating in a research report on Monday, March 16th. Royal Bank Of Canada downgraded Array Digital Infrastructure from an “outperform” rating to a “sector perform” rating and set a $52.00 target price for the company. in a research report on Tuesday, May 12th. Raymond James Financial downgraded Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a research report on Monday, May 11th. Finally, Citigroup cut their target price on Array Digital Infrastructure from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Monday, February 23rd.

Array Digital Infrastructure Stock Performance

Shares of NYSE AD opened at $40.72 on Friday. 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 50 day simple moving average of $49.69 and a 200-day simple moving average of $50.01. The company has a market cap of $3.52 billion, a PE ratio of 16.89 and a beta of 0.22. Array Digital Infrastructure has a 12-month low of $39.55 and a 12-month high of $79.17.

Array Digital Infrastructure Announces Dividend

The company also recently announced a special dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be given a $11.00 dividend. The ex-dividend date is Thursday, June 11th.

Institutional Investors Weigh In On Array Digital Infrastructure

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

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.