Array Digital Infrastructure (NYSE:AD) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Array Digital Infrastructure (NYSE:AD) from a sell rating to a hold rating in a research report released on Sunday.

A number of other equities analysts have also recently issued reports on the company. Wells Fargo & Company lowered their target price on Array Digital Infrastructure from $62.00 to $54.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. Weiss Ratings reissued a “sell (d)” rating on shares of Array Digital Infrastructure in a research note on Wednesday, January 21st. Raymond James Financial set a $53.00 price target on Array Digital Infrastructure in a report on Monday, February 23rd. Citigroup lowered their price objective on Array Digital Infrastructure from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Finally, Royal Bank Of Canada cut their target price on shares of Array Digital Infrastructure from $62.00 to $56.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 25th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $55.00.

Array Digital Infrastructure Stock Performance

Shares of Array Digital Infrastructure stock opened at $49.05 on Friday. The company’s 50 day moving average price is $51.24 and its two-hundred day moving average price is $50.33. The firm has a market capitalization of $4.17 billion, a P/E ratio of 87.59 and a beta of 0.18. Array Digital Infrastructure has a fifty-two week low of $44.03 and a fifty-two week high of $79.17. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.72 and a quick ratio of 0.72.

Array Digital Infrastructure (NYSE:AD) last announced its quarterly earnings results on Friday, February 20th. The company reported $0.48 earnings per share (EPS) 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 company had revenue of $60.33 million during the quarter. The company’s revenue was up 131.2% compared to the same quarter last year.

Array Digital Infrastructure Dividend Announcement

The business also recently declared a special dividend, which was paid on Monday, February 2nd. Shareholders of record on Friday, January 23rd were given a $10.25 dividend. The ex-dividend date was Friday, January 23rd.

Hedge Funds Weigh In On Array Digital Infrastructure

A number of hedge funds and other institutional investors have recently made changes to their positions in AD. Royal Bank of Canada bought a new stake in Array Digital Infrastructure in the fourth quarter valued at approximately $25,000. Quadrant Capital Group LLC bought a new position in Array Digital Infrastructure during the 4th quarter worth approximately $48,000. Empowered Funds LLC bought a new position in Array Digital Infrastructure during the 4th quarter worth approximately $54,000. Harbour Investments Inc. acquired a new position in shares of Array Digital Infrastructure in the 4th quarter worth approximately $61,000. Finally, Signaturefd LLC acquired a new position in shares of Array Digital Infrastructure in the 4th quarter worth approximately $73,000. 18.03% of the stock is owned by institutional investors and hedge funds.

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.