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

Shares of Array Digital Infrastructure Inc. (NYSE:AD) have earned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $47.40.

AD has been the topic of several recent analyst reports. Weiss Ratings lowered Array Digital Infrastructure from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, August 20th. Royal Bank Of Canada lowered their price target on Array Digital Infrastructure from $52.00 to $40.00 and set a “sector perform” rating for the company in a report on Friday, July 10th. JPMorgan Chase & Co. dropped their price target on Array Digital Infrastructure from $54.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 19th. Finally, Citigroup dropped their price target on Array Digital Infrastructure from $45.02 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th.

Array Digital Infrastructure Trading Down 0.6%

AD stock traded down $0.20 during midday trading on Friday, reaching $33.31. The company’s stock had a trading volume of 140,491 shares, compared to its average volume of 251,026. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a fifty day simple moving average of $35.64 and a two-hundred day simple moving average of $40.84. Array Digital Infrastructure has a 1 year low of $32.68 and a 1 year high of $60.82. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 5.37 and a beta of 0.29.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE purchased a new stake in shares of Array Digital Infrastructure during the 2nd quarter worth about $26,853,000. BlackRock Inc. acquired a new stake in shares of Array Digital Infrastructure during the 2nd quarter valued at about $14,537,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Array Digital Infrastructure by 423.0% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 99,990 shares of the company’s stock valued at $4,614,000 after purchasing an additional 80,872 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Array Digital Infrastructure by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,299,582 shares of the company’s stock valued at $106,102,000 after purchasing an additional 57,198 shares in the last quarter. Finally, Polar Asset Management Partners Inc. purchased a new position in shares of Array Digital Infrastructure in the 2nd quarter valued at about $3,147,000. 18.03% of the stock is currently 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.