Array Digital Infrastructure (NYSE:AD – Get Free Report) had its price objective reduced by research analysts at Citigroup from $45.00 to $43.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup‘s price target suggests a potential upside of 55.44% from the company’s previous close.
Other analysts also recently issued reports about the company. Weiss Ratings downgraded Array Digital Infrastructure from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, October 19th. JPMorgan Chase & Co. dropped their target price on shares of Array Digital Infrastructure from $54.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, August 19th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Array Digital Infrastructure presently has an average rating of “Hold” and a consensus target price of $47.00.
Check Out Our Latest Analysis on Array Digital Infrastructure
Array Digital Infrastructure Trading Up 1.2%
NYSE:AD traded up $0.33 during midday trading on Friday, hitting $27.66. The stock had a trading volume of 1,210,321 shares, compared to its average volume of 282,997. The stock has a 50-day moving average of $34.08 and a 200 day moving average of $41.56. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 3.72 and a beta of 0.34. Array Digital Infrastructure has a one year low of $27.05 and a one year high of $60.82. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 0.50.
Array Digital Infrastructure (NYSE:AD – Get Free Report) last issued its earnings results on Friday, November 6th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.73. Array Digital Infrastructure had a return on equity of 8.67% and a net margin of 291.79%. The business had revenue of $53.87 million during the quarter. During the same period last year, the firm earned ($0.44) earnings per share. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, sell-side analysts forecast that Array Digital Infrastructure will post 1.99 EPS for the current year.
Institutional Trading of Array Digital Infrastructure
Several hedge funds and other institutional investors have recently bought and sold shares of AD. First Trust Advisors LP lifted its stake in shares of Array Digital Infrastructure by 53.8% during the 3rd quarter. First Trust Advisors LP now owns 162,528 shares of the company’s stock worth $5,480,000 after purchasing an additional 56,833 shares during the last quarter. Fifth Third Bancorp boosted its position in Array Digital Infrastructure by 414.9% during the third quarter. Fifth Third Bancorp now owns 1,519 shares of the company’s stock valued at $51,000 after purchasing an additional 1,224 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in Array Digital Infrastructure by 1,683.2% in the third quarter. Asset Management One Co. Ltd. now owns 14,230 shares of the company’s stock valued at $480,000 after purchasing an additional 13,432 shares during the last quarter. Signaturefd LLC grew its stake in Array Digital Infrastructure by 38.7% in the third quarter. Signaturefd LLC now owns 1,954 shares of the company’s stock valued at $66,000 after purchasing an additional 545 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in Array Digital Infrastructure by 0.5% in the third quarter. State of Alaska Department of Revenue now owns 87,182 shares of the company’s stock worth $2,939,000 after purchasing an additional 423 shares in the last quarter. Institutional investors own 18.03% of the company’s stock.
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.
Further Reading
- Five stocks we like better than Array Digital Infrastructure
- Nu Holdings Earnings Show a Compounder Priced Like a Brazil Bet
- Game On: The Hidden Value in Take-Two’s Stock
- LightPath Technologies’ Record Backlog Highlights a Bigger Defense Opportunity
- A 10-Stock Strategy That Balances AI Growth With Cash Flow
Receive News & Ratings for Array Digital Infrastructure Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Array Digital Infrastructure and related companies with MarketBeat.com's FREE daily email newsletter.
