ADI Global Distribution Inc. Common Stock (NYSE:ADIG) Earns Buy Rating from Analysts at Seaport Research Partners

Key Points

• Seaport Research Partners initiated coverage with a “buy” rating on ADI Global Distribution and set a $35 price target, implying roughly 35.6% upside from the reported $25.82 share price.
• Analyst sentiment is mixed: Oppenheimer rated the stock “outperform” with a $30 target, JPMorgan assigned “neutral” with a $25 target, and Zacks raised its rating to “hold.” The consensus rating is “hold,” with an average price target of $27.50.
• J.Safra Asset Management purchased 3,145 shares worth approximately $1.175 million during the second quarter. ADI Global Distribution supplies security, low-voltage, and smart-building technology products to professional channel partners.

Analysts at Seaport Research Partners initiated coverage on shares of ADI Global Distribution Inc. Common Stock (NYSE:ADIG - Get Free Report) in a note issued to investors on Friday,Benzinga reports. The firm set a "buy" rating and a $35.00 price target on the stock. Seaport Research Partners' price target points to a potential upside of 35.55% from the company's current price.

Other equities research analysts also recently issued reports about the company. Oppenheimer assumed coverage on ADI Global Distribution Inc. Common Stock in a research note on Tuesday, August 4th. They set an "outperform" rating and a $30.00 price target for the company. JPMorgan Chase & Co. began coverage on shares of ADI Global Distribution Inc. Common Stock in a research report on Friday, August 7th. They set a "neutral" rating and a $25.00 price objective on the stock. Finally, Zacks Research raised shares of ADI Global Distribution Inc. Common Stock to a "hold" rating in a research report on Friday, August 7th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $27.50.

ADI Global Distribution Inc. Common Stock Price Performance

Shares of NYSE ADIG opened at $25.82 on Friday. ADI Global Distribution Inc. Common Stock has a one year low of $21.00 and a one year high of $30.99.

Institutional Trading of ADI Global Distribution Inc. Common Stock

A hedge fund recently bought a new stake in ADI Global Distribution Inc. Common Stock stock. J.Safra Asset Management Corp bought a new position in ADI Global Distribution Inc. Common Stock (NYSE:ADIG - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,145 shares of the company's stock, valued at approximately $1,175,000.

About ADI Global Distribution Inc. Common Stock

ADI Global Distribution, Inc is a wholesale distributor serving the security, low-voltage, and smart-building technology markets. The company supplies products from multiple manufacturers to professional installers, systems integrators, contractors, and other channel partners rather than selling primarily to consumers.

Its product categories include video surveillance equipment, access-control systems, intrusion and fire-alarm products, networking and data-communications equipment, audio-visual solutions, smart-home technologies, and related wire, cable, and installation accessories.

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