Adidas (OTCMKTS:ADDYY) Stock Gets Downgrade from Zacks Research

Adidas (OTCMKTS:ADDYY) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday, Zacks reports.

A number of other research analysts also recently commented on the company. Citigroup raised Adidas from a “buy” rating to an “overweight” rating in a report on Tuesday, September 1st. Benchmark upgraded shares of Adidas to a “strong-buy” rating in a research note on Tuesday, September 22nd. Telsey Advisory Group reissued an “outperform” rating on shares of Adidas in a report on Friday, July 31st. Barclays raised shares of Adidas from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, September 1st. Finally, Robert W. Baird downgraded shares of Adidas from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $146.00.

Adidas Stock Performance

Shares of ADDYY stock opened at $86.04 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.39 and a quick ratio of 0.74. The company’s fifty day moving average price is $86.04 and its two-hundred day moving average price is $90.34. The firm has a market capitalization of $30.74 billion, a P/E ratio of 18.95, a P/E/G ratio of 1.26 and a beta of 1.24. Adidas has a 12 month low of $75.19 and a 12 month high of $118.00.

Adidas (OTCMKTS:ADDYY) last announced its earnings results on Thursday, July 30th. The company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.16). Adidas had a net margin of 5.30% and a return on equity of 22.35%. The business had revenue of $7.76 billion for the quarter, compared to analyst estimates of $7.55 billion. On average, research analysts anticipate that Adidas will post 5.08 earnings per share for the current fiscal year.

Institutional Trading of Adidas

A hedge fund recently raised its position in Adidas stock. GAMMA Investing LLC lifted its holdings in shares of Adidas AG (OTCMKTS:ADDYY) by 7.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,249 shares of the company’s stock after buying an additional 148 shares during the period. GAMMA Investing LLC’s holdings in Adidas were worth $185,000 at the end of the most recent reporting period.

Adidas Company Profile

adidas AG is a Germany-based global sporting goods company headquartered in Herzogenaurach, Bavaria. Founded by Adolf “Adi” Dassler in 1949, the company develops, designs and markets athletic footwear, apparel and sports accessories under the adidas brand.

Its products serve a broad range of sports and activities, including football, running, basketball, training, tennis and outdoor pursuits. adidas also offers lifestyle footwear and clothing that combine sports-inspired designs with everyday fashion.