Citigroup Initiates Coverage on Array Digital Infrastructure (NYSE:AD)

Analysts at Citigroup started coverage on shares of Array Digital Infrastructure (NYSE:AD) in a research note issued on Wednesday, MarketBeat.com reports. The firm set a “buy” rating and a $37.00 price target on the stock. Citigroup’s price target suggests a potential downside of 22.44% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company cut their price objective on shares of Array Digital Infrastructure from $82.00 to $62.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Royal Bank Of Canada decreased their price objective on shares of Array Digital Infrastructure from $62.00 to $56.00 and set an “outperform” rating for the company in a report on Tuesday. Zacks Research upgraded Array Digital Infrastructure to a “hold” rating in a research report on Tuesday, August 12th. Weiss Ratings reiterated a “sell (d)” rating on shares of Array Digital Infrastructure in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut Array Digital Infrastructure from a “hold” rating to a “sell” rating in a research note on Monday, November 17th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Array Digital Infrastructure currently has a consensus rating of “Hold” and an average target price of $51.67.

Array Digital Infrastructure Price Performance

Shares of AD opened at $47.71 on Wednesday. The company has a market capitalization of $4.05 billion, a PE ratio of -158.96 and a beta of 0.18. The stock’s fifty day moving average price is $48.41. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.87 and a quick ratio of 1.71. Array Digital Infrastructure has a 12-month low of $44.03 and a 12-month high of $79.17.

Array Digital Infrastructure (NYSE:AD) last issued its earnings results on Friday, November 1st. The company reported $0.26 earnings per share for the quarter. The company had revenue of $922.00 million for the quarter. Array Digital Infrastructure had a negative net margin of 0.68% and a positive return on equity of 1.67%.

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.