Royal Bank Of Canada Initiates Coverage on Array Digital Infrastructure (NYSE:AD)

Equities research analysts at Royal Bank Of Canada began coverage on shares of Array Digital Infrastructure (NYSE:AD) in a research note issued to investors on Monday, Marketbeat.com reports. The firm set an “outperform” rating and a $62.00 price target on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 22.45% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Wall Street Zen lowered shares of Array Digital Infrastructure from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Array Digital Infrastructure in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded Array Digital Infrastructure to a “hold” rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Array Digital Infrastructure currently has an average rating of “Hold” and an average target price of $62.00.

Array Digital Infrastructure Price Performance

AD stock opened at $50.63 on Monday. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 0.61. Array Digital Infrastructure has a 1 year low of $47.03 and a 1 year high of $79.17. The business has a 50-day moving average of $51.26. The company has a market capitalization of $4.35 billion, a P/E ratio of -168.77 and a beta of 0.20.

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

Insider Activity

In other Array Digital Infrastructure news, Director Harry J. Harczak, Jr. sold 1,960 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $76.20, for a total transaction of $149,352.00. Following the completion of the sale, the director directly owned 19,374 shares in the company, valued at $1,476,298.80. The trade was a 9.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas W. Chambers sold 93,300 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $75.77, for a total transaction of $7,069,341.00. Following the completion of the transaction, the chief executive officer owned 17,600 shares in the company, valued at $1,333,552. The trade was a 84.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% 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.