Array Digital Infrastructure (NYSE:AD – Get Free Report) had its price objective cut by equities research analysts at JPMorgan Chase & Co. from $54.00 to $45.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 26.67% from the stock’s current price.
A number of other analysts have also commented on the stock. Citigroup reduced their price objective on shares of Array Digital Infrastructure from $45.02 to $45.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Wall Street Zen lowered shares of Array Digital Infrastructure from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Royal Bank Of Canada cut their target price on shares of 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. Raymond James Financial cut Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a research note on Monday, May 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Array Digital Infrastructure in a research report on Thursday, June 11th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.40.
Read Our Latest Analysis on AD
Array Digital Infrastructure Price Performance
Array Digital Infrastructure (NYSE:AD – Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The company reported $4.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $3.88. The company 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%. Analysts anticipate that Array Digital Infrastructure will post 0.8 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Array Digital Infrastructure
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP bought a new position in shares of Array Digital Infrastructure in the fourth quarter valued at approximately $120,237,000. Jericho Capital Asset Management L.P. bought a new stake in shares of Array Digital Infrastructure during the 4th quarter worth $97,366,000. Vanguard Group Inc. acquired a new position in Array Digital Infrastructure in the 4th quarter valued at $76,634,000. Gamco Investors INC. ET AL acquired a new position in Array Digital Infrastructure in the 4th quarter valued at $51,720,000. Finally, Loomis Sayles & Co. L P bought a new position in Array Digital Infrastructure in the 4th quarter worth $40,842,000. 18.03% of the stock is currently owned by institutional investors and hedge funds.
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.
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