Shares of ADI Global Distribution Inc. Common Stock (NYSE:ADIG – Get Free Report) hit a new 52-week low during mid-day 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 changing hands. The stock had previously closed at $16.95.
Other analysts have also issued reports about the stock. Oppenheimer initiated 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. Truist Financial assumed coverage on shares of ADI Global Distribution Inc. Common Stock in a research report on Wednesday, August 26th. They issued a “hold” rating and a $24.00 price target for the company. Seaport Research Partners began coverage on shares of ADI Global Distribution Inc. Common Stock in a research report on Friday, August 14th. They issued a “buy” rating and a $35.00 price target for the company. Zacks Research cut shares of ADI Global Distribution Inc. Common Stock from a “hold” rating to a “strong sell” rating in a research note on Monday, October 5th. Finally, Evercore assumed coverage on ADI Global Distribution Inc. Common Stock in a report on Monday, September 28th. They set a “hold” rating and a $23.00 price objective on the stock. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $24.25.
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ADI Global Distribution Inc. Common Stock Price Performance
The company has a current ratio of 2.80, a quick ratio of 1.62 and a debt-to-equity ratio of 0.40. The firm has a 50 day moving average price of $20.64.
About ADI Global Distribution Inc. Common Stock
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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