Adidas AG (OTCMKTS:ADDYY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
According to Zacks, “Adidas is a leading brand in the sporting goods market with strong positions in footwear, apparel and hardware. Adidas products offer technological innovations and cutting-edge designs to athletes of all skill levels who aspire to achieve peak performance. The adidas brand is structured in three divisions: Forever Sport, Originals and adidas Equipment. “
Several other equities analysts have also issued reports on ADDYY. Pivotal Research reaffirmed a “hold” rating on shares of Adidas AG in a report on Monday, November 6th. Wedbush began coverage on shares of Adidas AG in a report on Tuesday, October 24th. They issued a “neutral” rating on the stock. Wells Fargo & Company began coverage on shares of Adidas AG in a report on Tuesday, November 7th. They issued an “outperform” rating and a $220.00 price target on the stock. Robert W. Baird cut their price target on shares of Adidas AG from $205.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Deutsche Bank AG lowered shares of Adidas AG from a “buy” rating to a “hold” rating and set a $210.00 price target on the stock. in a report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $189.00.
Shares of Adidas AG (OTCMKTS ADDYY) traded up $2.96 during trading hours on Tuesday, reaching $110.40. 29,460 shares of the company were exchanged, compared to its average volume of 71,125. The company has a market capitalization of $44,960.00, a P/E ratio of 33.57, a price-to-earnings-growth ratio of 1.29 and a beta of 1.16. Adidas AG has a 52 week low of $71.80 and a 52 week high of $118.98. The company has a quick ratio of 0.79, a current ratio of 1.33 and a debt-to-equity ratio of 0.16.
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Several institutional investors and hedge funds have recently made changes to their positions in the company. Parametric Portfolio Associates LLC grew its holdings in shares of Adidas AG by 6.0% during the second quarter. Parametric Portfolio Associates LLC now owns 295,876 shares of the company’s stock valued at $28,395,000 after buying an additional 16,723 shares during the last quarter. NorthCoast Asset Management LLC purchased a new stake in Adidas AG in the second quarter valued at $2,043,000. Bahl & Gaynor Inc. boosted its holdings in Adidas AG by 36.0% in the second quarter. Bahl & Gaynor Inc. now owns 11,025 shares of the company’s stock valued at $866,000 after purchasing an additional 2,920 shares during the last quarter. Smith Asset Management Group LP boosted its holdings in Adidas AG by 131.8% in the second quarter. Smith Asset Management Group LP now owns 6,430 shares of the company’s stock valued at $617,000 after purchasing an additional 3,656 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Adidas AG by 37.4% in the third quarter. Pacer Advisors Inc. now owns 4,751 shares of the company’s stock valued at $538,000 after purchasing an additional 1,294 shares during the last quarter. 0.10% of the stock is currently owned by hedge funds and other institutional investors.
Adidas AG Company Profile
Adidas AG and its subsidiaries design, develop, produce and market a range of athletic and sports lifestyle products. The Company’s segments include Western Europe; North America; Greater China; Russia/CIS; Latin America; Japan; Middle East, South Korea, Southeast Asia/Pacific; TaylorMade-adidas Golf; Runtastic and Other centrally managed business.
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