Adidas AG (ADDYY) Raised to “Buy” at Zacks Investment Research
Adidas AG (OTCMKTS:ADDYY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage presently has a $126.00 price objective on the stock. Zacks Investment Research‘s price target indicates a potential upside of 11.96% from the company’s previous close.
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 brokerages also recently issued reports on ADDYY. Deutsche Bank AG downgraded 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. Raymond James Financial, Inc. raised shares of Adidas AG from an “underperform” rating to a “market perform” rating in a report on Thursday, July 6th. Finally, HSBC Holdings plc raised shares of Adidas AG from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Adidas AG presently has a consensus rating of “Buy” and an average price target of $168.00.
Adidas AG (OTCMKTS:ADDYY) traded down 0.07% on Wednesday, reaching $112.54. 49,419 shares of the company’s stock were exchanged. The stock has a market capitalization of $45.61 billion, a price-to-earnings ratio of 38.49 and a beta of 1.08. Adidas AG has a 12-month low of $70.61 and a 12-month high of $118.98.
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Several institutional investors and hedge funds have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC lifted its stake 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 period. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Adidas AG during the first quarter valued at approximately $3,474,000. NorthCoast Asset Management LLC purchased a new position in shares of Adidas AG during the second quarter valued at approximately $2,043,000. Bahl & Gaynor Inc. lifted its stake in shares of Adidas AG by 36.0% during the second 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. Finally, Smith Asset Management Group LP lifted its stake in shares of Adidas AG by 131.8% during 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 during the period. 0.11% of the stock is currently owned by institutional investors and hedge funds.
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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