ADI Global Distribution Inc. Common Stock (NYSE:ADIG) Stock Moved Down to "Strong Sell" by Zacks Research

Key Points

• Zacks Research downgraded ADI Global Distribution from “hold” to “strong sell,” adding to mixed analyst sentiment. The stock has an average “hold” rating and a consensus price target of $25.50.
• Other analysts’ views range from “buy” to “hold,” with price targets between $23 and $35; Seaport Research Partners is the only firm assigning a buy rating.
• ADIG opened at $17.85, near its 12-month low of $17.11 and below its 50-day moving average of $21.48, despite trading 1.3% higher on the day.

ADI Global Distribution Inc. Common Stock (NYSE:ADIG - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Monday, Zacks reports.

Several other research firms also recently weighed in on ADIG. Evercore initiated coverage on ADI Global Distribution Inc. Common Stock in a research report on Monday, September 28th. They set a "hold" rating and a $23.00 target price on the stock. Wall Street Zen upgraded shares of ADI Global Distribution Inc. Common Stock to a "hold" rating in a research report on Saturday, August 29th. JPMorgan Chase & Co. started coverage on shares of ADI Global Distribution Inc. Common Stock in a research note on Friday, August 7th. They issued a "neutral" rating and a $25.00 target price on the stock. Truist Financial began coverage on shares of ADI Global Distribution Inc. Common Stock in a report on Wednesday, August 26th. They issued a "hold" rating and a $24.00 target price for the company. Finally, Seaport Research Partners started coverage on shares of ADI Global Distribution Inc. Common Stock in a research note on Friday, August 14th. They set a "buy" rating and a $35.00 price target for the company. One investment 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 data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $25.50.

ADI Global Distribution Inc. Common Stock Trading Up 1.3%

ADIG opened at $17.85 on Monday. The stock has a 50-day moving average of $21.48. 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 $17.11 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.

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