JPMorgan Chase & Co. Cuts Array Digital Infrastructure (NYSE:AD) Price Target to $54.00

Array Digital Infrastructure (NYSE:AD) had its price objective lowered by investment analysts at JPMorgan Chase & Co. from $60.00 to $54.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 6.47% from the company’s previous close.

A number of other equities analysts have also commented on AD. Royal Bank Of Canada lowered shares of Array Digital Infrastructure from an “outperform” rating to a “sector perform” rating and set a $52.00 price target on the stock. in a research report on Tuesday, May 12th. Wells Fargo & Company dropped their target price on shares of Array Digital Infrastructure from $62.00 to $54.00 and set an “overweight” rating on the stock in a research report on Thursday, February 12th. Weiss Ratings raised shares of Array Digital Infrastructure from a “sell (d)” rating to a “hold (c)” rating in a research report on Monday, March 16th. Raymond James Financial lowered shares of Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a research report on Monday, May 11th. Finally, Citigroup dropped their target price on shares of Array Digital Infrastructure from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $54.00.

Array Digital Infrastructure Stock Up 0.1%

Shares of NYSE AD traded up $0.05 during mid-day trading on Tuesday, reaching $50.72. The company had a trading volume of 77,995 shares, compared to its average volume of 255,586. The stock has a fifty day moving average of $48.86 and a two-hundred day moving average of $49.68. 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 has a market capitalization of $4.38 billion, a price-to-earnings ratio of 21.05 and a beta of 0.23. 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 issued its quarterly earnings data on Friday, February 20th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.18. The firm had revenue of $60.33 million for the quarter. Array Digital Infrastructure had a net margin of 19.32% and a return on equity of 6.69%. The firm’s revenue was up 131.2% compared to the same quarter last year. As a group, equities research analysts expect that Array Digital Infrastructure will post 0.97 EPS for the current year.

Hedge Funds Weigh In On Array Digital Infrastructure

A number of hedge funds have recently made changes to their positions in the business. Royal Bank of Canada acquired a new position in shares of Array Digital Infrastructure in the 4th quarter valued at $25,000. Public Employees Retirement System of Ohio acquired a new position in shares of Array Digital Infrastructure in the 1st quarter valued at $33,000. Quadrant Capital Group LLC acquired a new position in shares of Array Digital Infrastructure in the 4th quarter valued at $48,000. Empowered Funds LLC acquired a new position in shares of Array Digital Infrastructure in the 4th quarter valued at $54,000. Finally, Harbour Investments Inc. acquired a new position in shares of Array Digital Infrastructure in the 4th quarter valued at $61,000. Institutional investors and hedge funds 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.