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

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

Several other equities analysts also recently weighed in on the stock. Wall Street Zen raised shares of ADI Global Distribution Inc. Common Stock to a “hold” rating in a research note on Saturday, August 29th. Oppenheimer assumed coverage on 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. Truist Financial began coverage on ADI Global Distribution Inc. Common Stock in a research report on Wednesday, August 26th. They set a “hold” rating and a $24.00 price objective on the stock. Evercore began coverage on ADI Global Distribution Inc. Common Stock in a research note on Monday, September 28th. They set a “hold” rating and a $23.00 price objective on the stock. Finally, JPMorgan Chase & Co. started coverage on ADI Global Distribution Inc. Common Stock in a report on Friday, August 7th. They issued a “neutral” rating and a $25.00 target price for the company. One equities research 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. According to MarketBeat.com, ADI Global Distribution Inc. Common Stock currently has a consensus rating of “Hold” and a consensus price target of $25.50.

ADI Global Distribution Inc. Common Stock Price Performance

NYSE ADIG opened at $17.85 on Monday. The company has a fifty day moving average price of $21.48. ADI Global Distribution Inc. Common Stock has a one year low of $17.11 and a one year 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.

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.