Adidas AG (ADDYY) Cut to Sell at Zacks Investment Research
Zacks Investment Research lowered shares of Adidas AG (OTCMKTS:ADDYY) from a hold rating to a sell rating in a research note issued to investors 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. “
Other equities analysts also recently issued reports about the company. Wedbush assumed coverage on Adidas AG in a research report on Tuesday, October 24th. They set a neutral rating on the stock. Robert W. Baird reduced their target price on Adidas AG from $205.00 to $200.00 and set a neutral rating on the stock in a research report on Friday, November 10th. Wells Fargo & Company assumed coverage on Adidas AG in a research report on Tuesday, November 7th. They set an outperform rating and a $220.00 target price on the stock. Pivotal Research reiterated a hold rating on shares of Adidas AG in a research report on Monday, November 6th. Finally, Deutsche Bank AG downgraded Adidas AG from a buy rating to a hold rating and set a $210.00 target price on the stock. in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. Adidas AG currently has an average rating of Hold and an average price target of $189.00.
Adidas AG (OTCMKTS ADDYY) opened at $108.92 on Tuesday. Adidas AG has a 12-month low of $72.62 and a 12-month high of $118.98. The firm has a market capitalization of $44,198.63, a PE ratio of 29.89, a P/E/G ratio of 1.51 and a beta of 1.11. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.79 and a current ratio of 1.33.
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Institutional investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its holdings in shares of Adidas AG by 3.1% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,771 shares of the company’s stock worth $144,000 after purchasing an additional 54 shares during the period. Wellington Shields Capital Management LLC purchased a new position in shares of Adidas AG in the 3rd quarter worth about $226,000. Wellington Shields & Co. LLC purchased a new position in shares of Adidas AG in the 3rd quarter worth about $232,000. Pacer Advisors Inc. purchased a new position in shares of Adidas AG in the 2nd quarter worth about $332,000. Finally, Smith Asset Management Group LP grew its stake in shares of 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 buying an additional 3,656 shares in the last quarter. Institutional investors own 0.10% of the company’s stock.
About Adidas AG
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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