Array Digital Infrastructure Inc. (NYSE:AD) Stock Has Average Target Price of $47.40 According to Analysts

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

AD has been the topic of a number of recent analyst reports. Citigroup cut their price target on shares of Array Digital Infrastructure from $45.02 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Weiss Ratings downgraded shares of Array Digital Infrastructure from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, August 20th. Royal Bank Of Canada dropped their price target on Array Digital Infrastructure from $52.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Friday, July 10th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Array Digital Infrastructure from $54.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 19th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of AD. Engineers Gate Manager LP grew its stake in shares of Array Digital Infrastructure by 132.1% during the 2nd quarter. Engineers Gate Manager LP now owns 29,603 shares of the company’s stock worth $1,073,000 after purchasing an additional 16,851 shares during the period. Waverly Advisors LLC raised its holdings in shares of Array Digital Infrastructure by 10.5% during the second quarter. Waverly Advisors LLC now owns 21,411 shares of the company’s stock valued at $776,000 after acquiring an additional 2,037 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Array Digital Infrastructure in the 2nd quarter valued at $411,000. Navellier & Associates Inc. lifted its stake in shares of Array Digital Infrastructure by 41.3% in the second quarter. Navellier & Associates Inc. now owns 11,002 shares of the company’s stock worth $399,000 after buying an additional 3,213 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in Array Digital Infrastructure in the 2nd quarter worth approximately $26,853,000. 18.03% of the stock is owned by institutional investors and hedge funds.

Array Digital Infrastructure Price Performance

Shares of AD stock opened at $33.57 on Tuesday. Array Digital Infrastructure has a fifty-two week low of $33.43 and a fifty-two week high of $60.82. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 5.41 and a beta of 0.28. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s 50-day simple moving average is $35.95 and its 200-day simple moving average is $42.10.

Array Digital Infrastructure (NYSE:AD) last posted its quarterly earnings data on Friday, August 7th. The company reported $4.15 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts forecast that Array Digital Infrastructure will post 1.15 earnings per share for the current fiscal year.

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.