Array Digital Infrastructure Inc. (NYSE:AD) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Array Digital Infrastructure Inc. (NYSE:AD) has received an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $47.40.

A number of analysts recently issued reports on AD shares. JPMorgan Chase & Co. cut their price objective on Array Digital Infrastructure from $54.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, August 19th. Citigroup decreased their target price on shares of Array Digital Infrastructure from $45.02 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Royal Bank Of Canada lowered their target price 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 lowered shares of Array Digital Infrastructure from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, August 20th.

Institutional Trading of Array Digital Infrastructure

A number of large investors have recently modified their holdings of AD. Public Employees Retirement System of Ohio acquired a new stake in Array Digital Infrastructure in the 1st quarter valued at about $33,000. Weiss Asset Management LP purchased a new position in shares of Array Digital Infrastructure in the 1st quarter valued at about $206,000. Jupiter Topco LLC acquired a new position in shares of Array Digital Infrastructure during the second quarter worth about $229,000. Inceptionr LLC acquired a new position in shares of Array Digital Infrastructure during the first quarter worth about $295,000. Finally, Legal & General Group Plc acquired a new position in shares of Array Digital Infrastructure during the second quarter worth about $305,000. Hedge funds and other institutional investors own 18.03% of the company’s stock.

Array Digital Infrastructure Price Performance

NYSE:AD traded down $0.20 during trading hours on Friday, hitting $33.31. 140,491 shares of the stock were exchanged, compared to its average volume of 251,026. The firm’s fifty day moving average price is $35.64 and its 200 day moving average price is $40.84. Array Digital Infrastructure has a 52-week low of $32.68 and a 52-week high of $60.82. The company has a market cap of $2.88 billion, a P/E ratio of 5.37 and a beta of 0.29. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.52.

Array Digital Infrastructure (NYSE:AD) last posted its quarterly earnings results on Friday, August 7th. The company reported $4.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $3.88. The firm had revenue of $54.07 million for the quarter. Array Digital Infrastructure had a net margin of 250.79% and a return on equity of 8.52%. As a group, equities research analysts anticipate that Array Digital Infrastructure will post 1.15 EPS for the current fiscal year.

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.