adidas (ADDYY) Downgraded by Zacks Investment Research to Hold

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.

TRADEMARK VIOLATION NOTICE: This piece of content was published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States and international copyright law. The correct version of this piece of content can be read at https://www.dispatchtribunal.com/2018/02/14/zacks-investment-research-downgrades-adidas-addyy-to-hold.html.

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.

Get a free copy of the Zacks research report on adidas (ADDYY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for adidas (OTCMKTS:ADDYY)

Receive News & Ratings for adidas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for adidas and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply