Array Digital Infrastructure (NYSE:AD) Price Target Lowered to $40.00 at Royal Bank Of Canada

Array Digital Infrastructure (NYSE:AD) had its price target trimmed by Royal Bank Of Canada from $52.00 to $40.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

AD has been the topic of several other reports. Weiss Ratings restated a “hold (c)” rating on shares of Array Digital Infrastructure in a report on Thursday, June 11th. Raymond James Financial lowered Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. decreased their price target on Array Digital Infrastructure from $60.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 26th. Finally, Wall Street Zen cut Array Digital Infrastructure from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Array Digital Infrastructure presently has an average rating of “Hold” and a consensus target price of $51.60.

Array Digital Infrastructure Trading Down 0.2%

AD stock traded down $0.07 during mid-day trading on Friday, hitting $34.67. 138,480 shares of the company were exchanged, compared to its average volume of 396,653. Array Digital Infrastructure has a 12-month low of $34.09 and a 12-month high of $79.17. The firm has a market capitalization of $3.00 billion, a P/E ratio of 14.39 and a beta of 0.25. The business has a fifty day simple moving average of $44.98 and a 200-day simple moving average of $48.26. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.36.

Array Digital Infrastructure Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were paid a $11.00 dividend. The ex-dividend date of this dividend was Thursday, June 11th.

Institutional Investors Weigh In On Array Digital Infrastructure

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

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.