Array Digital Infrastructure Inc. (AD) – What Are Analysts Thinking About This Stock?

Shares of Array Digital Infrastructure Inc. (NYSE:AD) have earned a consensus recommendation of “Hold” from the six analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $47.40.

A number of research firms recently weighed in on AD. Citigroup reduced their price objective on shares of Array Digital Infrastructure from $45.02 to $45.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Royal Bank Of Canada decreased 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 note on Friday, July 10th. Weiss Ratings cut Array Digital Infrastructure from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Array Digital Infrastructure from $54.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, August 19th.

Array Digital Infrastructure Stock Up 0.6%

AD opened at $33.52 on Friday. Array Digital Infrastructure has a twelve month low of $31.76 and a twelve month high of $60.82. The company’s 50-day moving average price is $35.41 and its two-hundred day moving average price is $40.35. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 14.42 and a beta of 0.29. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.52.

Array Digital Infrastructure (NYSE:AD) last issued its earnings results on Friday, August 7th. The company reported $4.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $3.88. The firm had revenue of $54.07 million for the quarter. Array Digital Infrastructure had a return on equity of 8.52% and a net margin of 250.79%. As a group, equities analysts expect that Array Digital Infrastructure will post 1.15 earnings per share for the current year.

Institutional Trading of Array Digital Infrastructure

Hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its holdings in Array Digital Infrastructure by 38.7% in the third quarter. Signaturefd LLC now owns 1,954 shares of the company’s stock worth $66,000 after buying an additional 545 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Array Digital Infrastructure by 0.5% during the third quarter. State of Alaska Department of Revenue now owns 87,182 shares of the company’s stock valued at $2,939,000 after purchasing an additional 423 shares in the last quarter. Engineers Gate Manager LP increased its stake in shares of Array Digital Infrastructure by 132.1% during the second quarter. Engineers Gate Manager LP now owns 29,603 shares of the company’s stock valued at $1,073,000 after purchasing an additional 16,851 shares in the last quarter. Waverly Advisors LLC grew its stake in shares of Array Digital Infrastructure by 10.5% in the second quarter. Waverly Advisors LLC now owns 21,411 shares of the company’s stock worth $776,000 after acquiring an additional 2,037 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Array Digital Infrastructure in the 2nd quarter worth about $411,000. 18.03% of the stock is 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.