HSBC Downgrades adidas (OTCMKTS:ADDYY) to Hold

adidas (OTCMKTS:ADDYY) was downgraded by equities researchers at HSBC from a “buy” rating to a “hold” rating in a report issued on Wednesday, Marketbeat reports.

Several other brokerages also recently weighed in on ADDYY. Telsey Advisory Group upgraded adidas from a “market perform” rating to an “outperform” rating in a research report on Wednesday, July 17th. Barclays restated an “equal weight” rating on shares of adidas in a research report on Monday, September 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, adidas currently has a consensus rating of “Moderate Buy”.

adidas Price Performance

Shares of OTCMKTS ADDYY opened at $116.88 on Wednesday. The stock’s fifty day moving average price is $124.46 and its two-hundred day moving average price is $121.95. adidas has a one year low of $84.71 and a one year high of $134.39. The firm has a market cap of $44.79 billion, a price-to-earnings ratio of 278.29 and a beta of 1.21.

adidas (OTCMKTS:ADDYY) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.11). The firm had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.35 billion. adidas had a net margin of 1.10% and a return on equity of 3.75%. On average, equities analysts anticipate that adidas will post 1.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On adidas

Several large investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of adidas by 29.4% in the third quarter. GAMMA Investing LLC now owns 792 shares of the company’s stock valued at $105,000 after buying an additional 180 shares during the period. Capital Square LLC acquired a new stake in shares of adidas in the second quarter valued at about $1,616,000. Finally, Hantz Financial Services Inc. acquired a new stake in shares of adidas in the second quarter valued at about $4,809,000.

adidas Company Profile

adidas AG, together with its subsidiaries, designs, develops, produces, and markets athletic and sports lifestyle products in Europe, the Middle East, Africa, North America, Greater China, the Asia-Pacific, and Latin America. It offers footwear, apparel, and accessories and gear, such as bags and balls under the adidas brand; golf footwear and apparel under the adidas Golf brand; and outdoor footwear under the Five Ten brand.