Array Digital Infrastructure (NYSE:AD) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Array Digital Infrastructure (NYSE:AD) from a sell rating to a hold rating in a report released on Saturday morning.

Several other brokerages have also recently issued reports on AD. Weiss Ratings reiterated a “sell (d)” rating on shares of Array Digital Infrastructure in a research note on Wednesday, January 21st. Citigroup lifted their price target on shares of Array Digital Infrastructure from $37.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Wells Fargo & Company cut their price target on Array Digital Infrastructure from $82.00 to $62.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Finally, Royal Bank Of Canada dropped their price objective on shares of Array Digital Infrastructure from $62.00 to $56.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 25th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $60.33.

Array Digital Infrastructure Stock Up 1.8%

Shares of AD opened at $48.23 on Friday. The business’s 50 day simple moving average is $51.74. The stock has a market cap of $4.10 billion, a P/E ratio of 267.94 and a beta of 0.17. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.65 and a current ratio of 0.65. Array Digital Infrastructure has a fifty-two week low of $44.03 and a fifty-two week high of $79.17.

Array Digital Infrastructure Dividend Announcement

The company also recently declared a special dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 23rd will be paid a dividend of $10.25 per share. The ex-dividend date of this dividend is Friday, January 23rd.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. UBS Group AG purchased a new position in Array Digital Infrastructure during the fourth quarter worth $2,816,000. Vanguard Group Inc. purchased a new stake in Array Digital Infrastructure in the 4th quarter valued at about $76,634,000. Arizona State Retirement System purchased a new stake in Array Digital Infrastructure in the fourth quarter valued at approximately $240,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Array Digital Infrastructure during the 4th quarter valued at $326,000. Finally, Asset Management One Co. Ltd. purchased a new stake in Array Digital Infrastructure during the fourth quarter valued at about $483,000. 18.03% of the stock is owned by hedge funds and other institutional investors.

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.