ADI Global Distribution Inc. Common Stock (NYSE:ADIG) Reaches New 1-Year Low After Analyst Downgrade

Key Points

• ADIG shares hit a new 52-week low, falling to $16.12 after JPMorgan cut its price target from $25 to $20 while maintaining a neutral rating.
• Analyst sentiment is mixed but leans cautious: the stock has a consensus “Hold” rating from five analysts, with an average price target of $24.25; Zacks recently downgraded it to “Strong Sell.”
• ADI Global Distribution supplies security, automation, networking, and low-voltage technology products to dealers, integrators, contractors, and other technology professionals.

ADI Global Distribution Inc. Common Stock (NYSE:ADIG - Get Free Report)'s share price reached a new 52-week low during trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $25.00 to $20.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. ADI Global Distribution Inc. Common Stock traded as low as $16.12 and last traded at $16.5560, with a volume of 452,166 shares traded. The stock had previously closed at $16.95.

Several other research analysts also recently weighed in on ADIG. Zacks Research downgraded ADI Global Distribution Inc. Common Stock from a "hold" rating to a "strong sell" rating in a research note on Monday, October 5th. Truist Financial initiated coverage on shares of ADI Global Distribution Inc. Common Stock in a research note on Wednesday, August 26th. They issued a "hold" rating and a $24.00 price target on the stock. Wall Street Zen raised shares of ADI Global Distribution Inc. Common Stock to a "hold" rating in a report on Saturday, August 29th. Oppenheimer began coverage on shares of ADI Global Distribution Inc. Common Stock in a report on Tuesday, August 4th. They issued an "outperform" rating and a $30.00 price target for the company. Finally, Evercore began coverage on shares of ADI Global Distribution Inc. Common Stock in a research report on Monday, September 28th. They set a "hold" rating and a $23.00 price objective for the company. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $24.25.

ADI Global Distribution Inc. Common Stock Trading Down 2.3%

The stock has a 50 day moving average of $21.04. 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 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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