Zacks Investment Research upgraded shares of adidas (OTCMKTS:ADDYY) from a hold rating to a buy rating in a report issued on Wednesday morning. They currently have $113.00 price objective on the stock.

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 research analysts also recently issued reports on the company. Robert W. Baird cut their price target on adidas from $205.00 to $200.00 and set a neutral rating for the company in a research note on Friday, November 10th. Wells Fargo & Co assumed coverage on adidas in a research note on Tuesday, November 7th. They set an outperform rating and a $220.00 price target for the company. Pivotal Research reaffirmed a hold rating on shares of adidas in a research note on Monday, November 6th. Finally, Wedbush reaffirmed a neutral rating on shares of adidas in a research note on Monday, October 23rd. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of Buy and an average price target of $185.75.

adidas (OTCMKTS:ADDYY) opened at $102.94 on Wednesday. The stock has a market capitalization of $40,533.54, a price-to-earnings ratio of 33.21, a PEG ratio of 1.16 and a beta of 1.07. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.38. adidas has a one year low of $76.41 and a one year high of $118.98.

Hedge funds have recently made changes to their positions in the stock. Quadrant Capital Group LLC raised its stake in adidas by 3.1% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,771 shares of the company’s stock valued at $144,000 after purchasing an additional 54 shares during the last quarter. Wellington Shields Capital Management LLC acquired a new position in adidas in the 3rd quarter valued at about $226,000. Wellington Shields & Co. LLC acquired a new position in adidas in the 3rd quarter valued at about $232,000. Pacer Advisors Inc. grew its holdings in adidas by 37.4% in the 3rd quarter. Pacer Advisors Inc. now owns 4,751 shares of the company’s stock valued at $538,000 after buying an additional 1,294 shares during the period. Finally, Bahl & Gaynor Inc. grew its holdings in adidas by 36.0% in the 2nd quarter. Bahl & Gaynor Inc. now owns 11,025 shares of the company’s stock valued at $866,000 after buying an additional 2,920 shares during the period. 0.09% of the stock is owned by hedge funds and other institutional investors.

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adidas 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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Analyst Recommendations for adidas (OTCMKTS:ADDYY)

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