Array Digital Infrastructure (NYSE:AD) Price Target Cut to $54.00 by Analysts at JPMorgan Chase & Co.

Array Digital Infrastructure (NYSE:AD) had its price target cut by research analysts at JPMorgan Chase & Co. from $60.00 to $54.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 6.47% from the company’s current price.

Several other research firms also recently commented on AD. Wall Street Zen downgraded Array Digital Infrastructure from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Royal Bank Of Canada downgraded Array Digital Infrastructure from an “outperform” rating to a “sector perform” rating and set a $52.00 price objective for the company. in a report on Tuesday, May 12th. Weiss Ratings raised Array Digital Infrastructure from a “sell (d)” rating to a “hold (c)” rating in a report on Monday, March 16th. Raymond James Financial downgraded Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a report on Monday, May 11th. Finally, Wells Fargo & Company cut their price target 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. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Array Digital Infrastructure has a consensus rating of “Hold” and an average target price of $54.00.

Array Digital Infrastructure Stock Up 0.1%

AD stock traded up $0.05 during mid-day trading on Tuesday, hitting $50.72. 77,995 shares of the company were exchanged, compared to its average volume of 255,586. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $4.38 billion, a P/E ratio of 21.05 and a beta of 0.23. The firm’s 50 day simple moving average is $48.86 and its 200 day simple moving average is $49.68. Array Digital Infrastructure has a 1-year low of $44.03 and a 1-year high of $79.17.

Array Digital Infrastructure (NYSE:AD) last announced its earnings results on Friday, February 20th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.30 by $0.18. The firm had revenue of $60.33 million for the quarter. Array Digital Infrastructure had a net margin of 19.32% and a return on equity of 6.69%. The business’s quarterly revenue was up 131.2% on a year-over-year basis. On average, sell-side analysts predict that Array Digital Infrastructure will post 0.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Array Digital Infrastructure

Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada acquired a new stake in Array Digital Infrastructure during the 4th quarter valued at $25,000. Public Employees Retirement System of Ohio acquired a new stake in Array Digital Infrastructure during the 1st quarter valued at $33,000. Quadrant Capital Group LLC acquired a new stake in Array Digital Infrastructure during the 4th quarter valued at $48,000. Empowered Funds LLC acquired a new stake in Array Digital Infrastructure during the 4th quarter valued at $54,000. Finally, Harbour Investments Inc. acquired a new stake in Array Digital Infrastructure during the 4th quarter valued at $61,000. Institutional investors and hedge funds own 18.03% of the company’s stock.

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.