Array Digital Infrastructure (NYSE:AD) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Array Digital Infrastructure (NYSE:AD) from a hold rating to a sell rating in a research note published on Saturday morning.

A number of other analysts have also commented on the company. Citigroup decreased their target price 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. Raymond James Financial set a $53.00 price objective on Array Digital Infrastructure in a research note on Monday, February 23rd. Royal Bank Of Canada decreased their price objective on 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 report on Wednesday, January 21st. Finally, Wells Fargo & Company reduced their price target on shares of Array Digital Infrastructure from $62.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, February 12th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $55.00.

Array Digital Infrastructure Stock Up 1.3%

NYSE:AD opened at $48.67 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.72 and a debt-to-equity ratio of 0.26. Array Digital Infrastructure has a twelve month low of $44.03 and a twelve month high of $79.17. The company has a fifty day moving average of $51.71. The company has a market cap of $4.14 billion, a price-to-earnings ratio of 86.90 and a beta of 0.17.

Array Digital Infrastructure (NYSE:AD) last posted its quarterly earnings results on Friday, February 20th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.18. Array Digital Infrastructure had a net margin of 2.51% and a return on equity of 4.89%. The business had revenue of $60.33 million during the quarter. The business’s revenue for the quarter was up 131.2% compared to the same quarter last year.

Array Digital Infrastructure Announces Dividend

The company also recently disclosed a special dividend, which was paid on Monday, February 2nd. Shareholders of record on Friday, January 23rd were issued a dividend of $10.25 per share. The ex-dividend date of this dividend was Friday, January 23rd.

Institutional Investors Weigh In On Array Digital Infrastructure

Institutional investors have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. purchased a new stake in Array Digital Infrastructure in the 4th quarter valued at about $910,000. Aberdeen Group plc bought a new position in shares of Array Digital Infrastructure in the fourth quarter valued at approximately $15,528,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Array Digital Infrastructure during the fourth quarter valued at approximately $99,000. Signaturefd LLC bought a new stake in Array Digital Infrastructure during the fourth quarter worth $73,000. Finally, State of Alaska Department of Revenue bought a new stake in Array Digital Infrastructure during the fourth quarter worth $5,187,000. 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.