ADI Global Distribution Inc. Common Stock (NYSE:ADIG) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of ADI Global Distribution Inc. Common Stock (NYSE:ADIG) from a hold rating to a strong sell rating in a research note published on Monday morning,Zacks reports.

Other analysts also recently issued reports about the company. Truist Financial started coverage on 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. JPMorgan Chase & Co. initiated coverage on shares of ADI Global Distribution Inc. Common Stock in a research report on Friday, August 7th. They set a “neutral” rating and a $25.00 price objective on the stock. Oppenheimer started coverage on shares of ADI Global Distribution Inc. Common Stock in a research note on Tuesday, August 4th. They issued an “outperform” rating and a $30.00 target price on 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. 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 issued a Sell rating to the company. Based on data from MarketBeat.com, ADI Global Distribution Inc. Common Stock has a consensus rating of “Hold” and a consensus target price of $25.50.

ADI Global Distribution Inc. Common Stock Stock Performance

Shares of NYSE ADIG opened at $17.56 on Monday. The firm’s 50-day simple moving average is $21.40. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.62 and a current ratio of 2.80. 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.