Zacks Research Downgrades ADI Global Distribution Inc. Common Stock (NYSE:ADIG) to Strong Sell

ADI Global Distribution Inc. Common Stock (NYSE:ADIG) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday, Zacks reports.

Several other equities research analysts also recently issued reports on ADIG. Evercore initiated coverage on ADI Global Distribution Inc. Common Stock in a report on Monday, September 28th. They issued a “hold” rating and a $23.00 price target for the company. Oppenheimer began coverage on ADI Global Distribution Inc. Common Stock in a research note on Tuesday, August 4th. They set an “outperform” rating and a $30.00 target price for the company. JPMorgan Chase & Co. assumed 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 for the company. Seaport Research Partners started coverage on ADI Global Distribution Inc. Common Stock in a research report on Friday, August 14th. They set a “buy” rating and a $35.00 price target for the company. Finally, Wall Street Zen raised shares of ADI Global Distribution Inc. Common Stock to a “hold” rating in a research report on Saturday, August 29th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $25.50.

ADI Global Distribution Inc. Common Stock Stock Performance

ADIG opened at $17.85 on Monday. ADI Global Distribution Inc. Common Stock has a 12 month low of $17.11 and a 12 month high of $30.99. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.80 and a quick ratio of 1.62. The company has a fifty day moving average price of $21.48.

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.