adidas (OTCMKTS:ADDYY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, March 14th. The brokerage currently has a $120.00 price target on the stock. Zacks Investment Research‘s target price indicates a potential downside of 3.75% from the stock’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. “
Separately, Bank of America raised shares of adidas from a “neutral” rating to a “buy” rating in a report on Thursday, March 8th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. adidas currently has a consensus rating of “Buy” and an average price target of $190.75.
ADDYY stock traded down $0.34 during mid-day trading on Wednesday, hitting $124.68. 99,786 shares of the company were exchanged, compared to its average volume of 78,141. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.37 and a quick ratio of 0.79. The firm has a market cap of $50,380.31, a PE ratio of 31.97, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05. adidas has a 12-month low of $92.97 and a 12-month high of $125.73.
adidas (OTCMKTS:ADDYY) last announced its earnings results on Wednesday, March 14th. The company reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.14. The company had revenue of $5.95 billion during the quarter, compared to analyst estimates of $6.08 billion. adidas had a net margin of 5.07% and a return on equity of 22.20%. sell-side analysts anticipate that adidas will post 4.77 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in ADDYY. Teachers Retirement System of The State of Kentucky purchased a new position in shares of adidas during the fourth quarter worth approximately $2,446,000. Parametric Portfolio Associates LLC grew its position in shares of 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 acquiring an additional 17,631 shares during the last quarter. NorthCoast Asset Management LLC grew its position in shares of 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 acquiring an additional 3,285 shares during the last quarter. Fairfield Bush & CO. purchased a new position in shares of adidas during the fourth quarter worth approximately $288,000. Finally, Wellington Shields Capital Management LLC purchased a new position in shares of adidas during the third quarter worth approximately $226,000. Institutional investors and hedge funds 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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