Zacks Investment Research cut shares of adidas (OTCMKTS:ADDYY) from a buy rating to a hold rating in a research note issued to investors on Friday, January 19th.
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. “
A number of other brokerages also recently issued reports on ADDYY. Wedbush began coverage on adidas in a research note on Tuesday, October 24th. They issued a neutral rating on the stock. Pivotal Research reissued a hold rating on shares of adidas in a research note on Monday, November 6th. Wells Fargo & Co began coverage on adidas in a research note on Tuesday, November 7th. They issued an outperform rating and a $220.00 price objective on the stock. Finally, Robert W. Baird dropped their price objective on adidas from $205.00 to $200.00 and set a neutral rating on the stock in a research note on Friday, November 10th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $185.75.
Shares of adidas (ADDYY) traded up $1.46 during trading hours on Friday, hitting $110.81. The stock had a trading volume of 34,733 shares, compared to its average volume of 57,976. The firm has a market cap of $44,267.13, a P/E ratio of 35.75, a price-to-earnings-growth ratio of 1.21 and a beta of 1.18. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 0.86. adidas has a 12 month low of $78.56 and a 12 month high of $118.98.
A number of institutional investors have recently modified their holdings of ADDYY. Teachers Retirement System of The State of Kentucky bought a new stake in adidas in the 4th quarter valued at about $2,446,000. Parametric Portfolio Associates LLC increased its holdings in adidas by 6.0% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 310,794 shares of the company’s stock worth $35,182,000 after purchasing an additional 17,631 shares in the last quarter. NorthCoast Asset Management LLC increased its holdings in adidas by 24.1% during the 4th quarter. NorthCoast Asset Management LLC now owns 16,922 shares of the company’s stock worth $1,698,000 after purchasing an additional 3,285 shares in the last quarter. Wellington Shields & Co. LLC bought a new stake in adidas during the 3rd quarter worth approximately $232,000. Finally, Wellington Shields Capital Management LLC bought a new stake in adidas during the 3rd quarter worth approximately $226,000. 0.10% of the stock is owned by institutional investors and hedge funds.
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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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