ADI Global Distribution Inc. Common Stock (NYSE:ADIG) Given New $20.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered ADI Global Distribution’s price target from $25 to $20 while maintaining a “neutral” rating, implying approximately 23% upside from the stock’s reported $16.24 price.
• Analyst sentiment is mixed: the stock has an overall “Hold” consensus, with one Buy, three Hold, and one Sell rating, and an average price target of $24.25.
• ADIG shares fell $0.71 to $16.24 in Tuesday trading, near their 12-month low of $16.12 and below the 50-day moving average of $21.13.

ADI Global Distribution Inc. Common Stock (NYSE:ADIG - Get Free Report) had its target price lowered by research analysts at JPMorgan Chase & Co. from $25.00 to $20.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 23.15% from the stock's current price.

A number of other research firms also recently issued reports on ADIG. Oppenheimer assumed coverage on shares of ADI Global Distribution Inc. Common Stock in a research report on Tuesday, August 4th. They set an "outperform" rating and a $30.00 target price on the stock. Zacks Research cut shares of ADI Global Distribution Inc. Common Stock from a "hold" rating to a "strong sell" rating in a research report on Monday, October 5th. Wall Street Zen upgraded shares of ADI Global Distribution Inc. Common Stock to a "hold" rating in a research report on Saturday, August 29th. Truist Financial began coverage on shares of ADI Global Distribution Inc. Common Stock in a research note on Wednesday, August 26th. They set a "hold" rating and a $24.00 price target for the company. Finally, Seaport Research Partners began coverage on shares of ADI Global Distribution Inc. Common Stock in a report on Friday, August 14th. They issued a "buy" rating and a $35.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $24.25.

ADI Global Distribution Inc. Common Stock Price Performance

ADI Global Distribution Inc. Common Stock stock traded down $0.71 during mid-day trading on Tuesday, hitting $16.24. The stock had a trading volume of 160,666 shares, compared to its average volume of 954,947. The firm's 50-day moving average is $21.13. The company has a quick ratio of 1.62, a current ratio of 2.80 and a debt-to-equity ratio of 0.40. ADI Global Distribution Inc. Common Stock has a 12 month low of $16.12 and a 12 month high of $30.99.

ADI Global Distribution Inc. Common Stock Company Profile

ADI Global Distribution Inc is a distributor of products and solutions used in the security, automation, and low-voltage technology markets. Its offerings include video surveillance equipment, access-control systems, intrusion and fire-alarm products, professional audio-visual equipment, networking hardware, and related installation supplies.

The company primarily serves security dealers, systems integrators, electrical contractors, and other technology professionals. Through sales channels that include branch locations, e-commerce platforms, and sales representatives, ADI supports customers with product sourcing, technical assistance, training, and logistics services.

ADI Global Distribution has operated as part of Resideo Technologies, Inc, following the separation of Resideo from Honeywell International.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.