ADI Global Distribution Inc. Common Stock (NYSE:ADIG) Now Covered by Evercore

Key Points

• Evercore initiated coverage of ADI Global Distribution with an “in-line” rating and a $23 price target, implying approximately 27% upside from the prior close.
• Analyst sentiment is largely neutral: the stock has an overall consensus rating of “Hold” and a consensus price target of $25.50, based on one Buy and four Hold ratings.
• ADIG shares fell to $18.09 in Monday trading, near their one-year low of $18.16. The company distributes security, surveillance, access-control, networking, and related technology products.

Equities researchers at Evercore initiated coverage on shares of ADI Global Distribution Inc. Common Stock (NYSE:ADIG - Get Free Report) in a research report issued to clients and investors on Monday, Briefing.com reports. The brokerage set an "in-line" rating and a $23.00 price target on the stock. Evercore's price objective indicates a potential upside of 27.11% from the stock's previous close.

Other analysts also recently issued research reports about the stock. Wall Street Zen upgraded shares of ADI Global Distribution Inc. Common Stock to a "hold" rating in a report on Saturday, August 29th. JPMorgan Chase & Co. started coverage on ADI Global Distribution Inc. Common Stock in a research report on Friday, August 7th. They issued a "neutral" rating and a $25.00 price objective for the company. Truist Financial started coverage on ADI Global Distribution Inc. Common Stock in a research note on Wednesday, August 26th. They set a "hold" rating and a $24.00 target price for the company. Seaport Research Partners assumed coverage on ADI Global Distribution Inc. Common Stock in a research note on Friday, August 14th. They issued a "buy" rating and a $35.00 price target on the stock. Finally, Oppenheimer started coverage on ADI Global Distribution Inc. Common Stock in a research report on Tuesday, August 4th. They set an "outperform" rating and a $30.00 price objective for the company. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $25.50.

ADI Global Distribution Inc. Common Stock Price Performance

Shares of ADIG traded down $1.46 during midday trading on Monday, reaching $18.09. The company had a trading volume of 71,257 shares, compared to its average volume of 1,021,793. ADI Global Distribution Inc. Common Stock has a 1-year low of $18.16 and a 1-year high of $30.99. 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 Company Profile

ADI Global Distribution Inc is a distributor of security, low-voltage, and related technology products for professional installers, integrators, and contractors. The company supplies products used in residential and commercial security, access control, video surveillance, fire and life-safety systems, building automation, networking, and smart-home applications.

Its offerings include cameras and video equipment, alarms, sensors, access-control products, structured cabling, networking equipment, audio-visual products, and installation-related supplies.

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