Array Digital Infrastructure Inc. (NYSE:AD) Receives Average Rating of “Hold” from Analysts

Shares of Array Digital Infrastructure Inc. (NYSE:AD) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $54.00.

A number of equities research analysts have issued reports on AD shares. Weiss Ratings reissued a “hold (c)” rating on shares of Array Digital Infrastructure in a research note on Thursday, June 11th. Wall Street Zen downgraded shares of Array Digital Infrastructure from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Royal Bank Of Canada lowered 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. Citigroup reduced their price objective on Array Digital Infrastructure from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Finally, Raymond James Financial lowered Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a research report on Monday, May 11th.

Array Digital Infrastructure Stock Performance

Shares of AD opened at $38.83 on Friday. The company has a market capitalization of $3.35 billion, a PE ratio of 16.11 and a beta of 0.22. 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 company’s 50 day moving average price is $48.99 and its 200 day moving average price is $49.79. Array Digital Infrastructure has a 52 week low of $38.40 and a 52 week high of $79.17.

Array Digital Infrastructure Dividend Announcement

The company also recently declared a special dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 11th will be paid a $11.00 dividend. The ex-dividend date of this dividend is Thursday, June 11th.

Hedge Funds Weigh In On Array Digital Infrastructure

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada bought a new stake in Array Digital Infrastructure in the fourth quarter worth approximately $25,000. Public Employees Retirement System of Ohio bought a new stake in Array Digital Infrastructure in the first quarter worth $33,000. Quadrant Capital Group LLC bought a new stake in Array Digital Infrastructure in the fourth quarter worth $48,000. Empowered Funds LLC bought a new position in Array Digital Infrastructure during the fourth quarter valued at about $54,000. Finally, Harbour Investments Inc. bought a new position in Array Digital Infrastructure during the fourth quarter valued at about $61,000. Institutional investors 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.