ADI Global Distribution Inc. Common Stock (NYSE:ADIG) Stock Gets Price Target Cut from JPMorgan Chase & Co.

ADI Global Distribution Inc. Common Stock (NYSE:ADIG) had its target price decreased by investment analysts at JPMorgan Chase & Co. from $25.00 to $20.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 23.15% from the company’s previous close.

Several other research firms have also weighed in on ADIG. Truist Financial began coverage on shares of ADI Global Distribution Inc. Common Stock in a research note on Wednesday, August 26th. They set a “hold” rating and a $24.00 price objective on the stock. Zacks Research downgraded 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. Seaport Research Partners assumed coverage on shares of ADI Global Distribution Inc. Common Stock in a research note on Friday, August 14th. They issued a “buy” rating and a $35.00 target price for the company. Oppenheimer started 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 target price on the stock. Finally, Evercore assumed 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 target on the stock. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, ADI Global Distribution Inc. Common Stock presently has an average rating of “Hold” and a consensus target price of $24.25.

ADI Global Distribution Inc. Common Stock Stock Performance

Shares of ADIG stock traded down $0.71 on Tuesday, reaching $16.24. The company had a trading volume of 160,666 shares, compared to its average volume of 954,947. 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 stock’s 50-day simple moving average is $21.13. ADI Global Distribution Inc. Common Stock has a 12 month low of $16.12 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.