Wall Street Zen Downgrades Array Digital Infrastructure (NYSE:AD) to Sell

Array Digital Infrastructure (NYSE:AD) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

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

Array Digital Infrastructure Stock Up 1.3%

Shares of AD opened at $48.67 on Friday. The firm’s 50-day moving average price is $51.71. The company has a quick ratio of 0.65, a current ratio of 0.72 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of 86.90 and a beta of 0.17. Array Digital Infrastructure has a 12-month low of $44.03 and a 12-month high of $79.17.

Array Digital Infrastructure (NYSE:AD) last announced its quarterly earnings data on Friday, February 20th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.18. Array Digital Infrastructure had a return on equity of 4.89% and a net margin of 2.51%.The company had revenue of $60.33 million for the quarter. Array Digital Infrastructure’s revenue was up 131.2% on a year-over-year basis.

Institutional Investors Weigh In On Array Digital Infrastructure

A number of institutional investors and hedge funds have recently modified their holdings of AD. Dimensional Fund Advisors LP acquired a new position in Array Digital Infrastructure in the fourth quarter valued at approximately $120,237,000. Jericho Capital Asset Management L.P. acquired a new stake in Array Digital Infrastructure during the 4th quarter worth $97,366,000. Vanguard Group Inc. bought a new stake in shares of Array Digital Infrastructure during the 4th quarter valued at $76,634,000. Gamco Investors INC. ET AL acquired a new position in shares of Array Digital Infrastructure in the 4th quarter valued at $51,720,000. Finally, Loomis Sayles & Co. L P bought a new position in shares of Array Digital Infrastructure in the 4th quarter worth $40,842,000. 18.03% of the stock is owned by institutional investors.

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.