Wall Street Zen Upgrades Array Digital Infrastructure (NYSE:AD) to Hold

Array Digital Infrastructure (NYSE:AD) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

A number of other research analysts have also recently weighed in on AD. Royal Bank Of Canada lowered their price objective on Array Digital Infrastructure from $62.00 to $56.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 25th. Weiss Ratings reissued a “sell (d)” rating on shares of Array Digital Infrastructure in a report on Wednesday, January 21st. Wells Fargo & Company decreased 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 note on Thursday, February 12th. Raymond James Financial set a $53.00 price target on shares of Array Digital Infrastructure in a research report on Monday, February 23rd. Finally, Citigroup reduced their price objective on shares of Array Digital Infrastructure from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Three research 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $54.50.

Array Digital Infrastructure Price Performance

Shares of Array Digital Infrastructure stock opened at $49.18 on Friday. The stock has a market cap of $4.18 billion, a P/E ratio of 87.82 and a beta of 0.18. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.72 and a current ratio of 0.72. The stock’s fifty day moving average is $51.15 and its 200 day moving average is $50.28. Array Digital Infrastructure has a one year low of $44.03 and a one year high of $79.17.

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

Hedge Funds Weigh In On Array Digital Infrastructure

Several institutional investors have recently bought and sold shares of AD. Dimensional Fund Advisors LP bought a new stake in shares of Array Digital Infrastructure in the 4th quarter worth about $120,237,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of Array Digital Infrastructure during the 4th quarter valued at about $97,366,000. Vanguard Group Inc. bought a new position in shares of Array Digital Infrastructure in the 4th quarter valued at about $76,634,000. Gamco Investors INC. ET AL bought a new position in shares of Array Digital Infrastructure in the 4th quarter valued at about $51,720,000. Finally, Loomis Sayles & Co. L P purchased a new position in Array Digital Infrastructure in the fourth quarter worth about $40,842,000. 18.03% of the stock is owned by hedge funds and other institutional investors.

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.