Zacks Investment Research cut shares of adidas (OTCMKTS:ADDYY) from a buy rating to a hold rating in a research report report published on Thursday, March 15th.
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. “
ADDYY has been the subject of a number of other reports. Bank of America upgraded shares of adidas from a neutral rating to a buy rating in a research report on Thursday, March 8th. Citigroup upgraded shares of adidas from a neutral rating to a buy rating in a research report on Thursday, March 15th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. adidas currently has an average rating of Buy and a consensus price target of $190.75.
Shares of OTCMKTS ADDYY traded down $0.34 during mid-day trading on Thursday, reaching $124.68. The company’s stock had a trading volume of 99,786 shares, compared to its average volume of 78,141. The stock has a market capitalization of $50,380.31, a price-to-earnings ratio of 31.48, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.15. adidas has a 1-year low of $92.97 and a 1-year high of $125.73.
adidas (OTCMKTS:ADDYY) last issued its earnings results on Wednesday, March 14th. The company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.14. The business had revenue of $5.95 billion during the quarter, compared to analysts’ expectations of $6.08 billion. adidas had a net margin of 5.07% and a return on equity of 22.20%. equities research analysts expect that adidas will post 4.77 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC increased its position in adidas by 6.0% during the third 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 during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in adidas during the fourth quarter worth about $2,446,000. NorthCoast Asset Management LLC increased its position in adidas by 24.1% during the fourth 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 during the last quarter. Pacer Advisors Inc. increased its position in adidas by 37.4% during the third quarter. Pacer Advisors Inc. now owns 4,751 shares of the company’s stock worth $538,000 after purchasing an additional 1,294 shares during the last quarter. Finally, Fairfield Bush & CO. acquired a new stake in adidas during the fourth quarter worth about $288,000. Hedge funds and other institutional investors own 0.14% of the company’s stock.
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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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