Analysts Set Array Digital Infrastructure Inc. (NYSE:AD) PT at $54.00

Array Digital Infrastructure Inc. (NYSE:AD) has earned a consensus rating of “Hold” from the seven ratings firms that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $51.60.

Several brokerages have recently commented on AD. JPMorgan Chase & Co. cut their price objective on Array Digital Infrastructure from $60.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th. Raymond James Financial downgraded shares of Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a research note on Monday, May 11th. Wall Street Zen lowered shares of Array Digital Infrastructure from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Royal Bank Of Canada cut their price target on shares of Array Digital Infrastructure from $52.00 to $40.00 and set a “sector perform” rating for the company in a research note on Friday, July 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Array Digital Infrastructure in a report on Thursday, June 11th.

Array Digital Infrastructure Trading Up 1.9%

Array Digital Infrastructure stock opened at $34.80 on Thursday. The firm’s fifty day moving average price is $44.06 and its 200-day moving average price is $47.81. Array Digital Infrastructure has a fifty-two week low of $33.71 and a fifty-two week high of $79.17. The stock has a market cap of $3.01 billion, a P/E ratio of 14.44 and a beta of 0.25. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.03 and a current ratio of 1.03.

Array Digital Infrastructure Announces Dividend

The business also recently announced a special dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were given a $11.00 dividend. The ex-dividend date was Thursday, June 11th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada bought a new stake in Array Digital Infrastructure during the fourth quarter worth about $25,000. Public Employees Retirement System of Ohio bought a new position in shares of Array Digital Infrastructure during the 1st quarter valued at about $33,000. Quadrant Capital Group LLC bought a new position in shares of Array Digital Infrastructure during the 4th quarter valued at about $48,000. Empowered Funds LLC bought a new position in shares of Array Digital Infrastructure during the 4th quarter valued at about $54,000. Finally, Harbour Investments Inc. purchased a new position in shares of Array Digital Infrastructure during the 4th quarter valued at about $61,000. Institutional investors own 18.03% of the company’s stock.

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.