Adidas’ (ADDYY) “Underperform” Rating Reiterated at Bank of America

Adidas (OTCMKTS:ADDYY)‘s stock had its “underperform” rating reissued by stock analysts at Bank of America in a research report issued on Tuesday.

Other equities analysts also recently issued research reports about the stock. BTIG Research assumed coverage on shares of Adidas in a research note on Tuesday, October 14th. They set a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Adidas in a report on Wednesday, December 10th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Adidas Price Performance

Adidas stock opened at $99.90 on Tuesday. The stock’s 50 day moving average is $94.71 and its 200 day moving average is $103.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.31 and a quick ratio of 0.71. The firm has a market cap of $35.67 billion, a P/E ratio of 26.15, a P/E/G ratio of 0.41 and a beta of 1.20. Adidas has a one year low of $86.28 and a one year high of $137.73.

Adidas (OTCMKTS:ADDYY) last released its earnings results on Wednesday, October 29th. The company reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.07). Adidas had a net margin of 5.00% and a return on equity of 20.72%. The firm had revenue of $7.73 billion for the quarter, compared to analyst estimates of $6.22 billion. As a group, research analysts expect that Adidas will post 2.27 EPS for the current year.

Hedge Funds Weigh In On Adidas

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in shares of Adidas by 30.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,375 shares of the company’s stock worth $161,000 after acquiring an additional 318 shares during the last quarter. Yousif Capital Management LLC increased its holdings in Adidas by 9.4% during the 2nd quarter. Yousif Capital Management LLC now owns 5,221 shares of the company’s stock worth $607,000 after purchasing an additional 450 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Adidas by 7.9% in the first quarter. Rhumbline Advisers now owns 9,655 shares of the company’s stock worth $1,139,000 after purchasing an additional 709 shares during the last quarter. Mar Vista Investment Partners LLC raised its stake in shares of Adidas by 4.0% in the second quarter. Mar Vista Investment Partners LLC now owns 30,337 shares of the company’s stock worth $3,550,000 after purchasing an additional 1,180 shares during the last quarter. Finally, Madison Asset Management LLC lifted its holdings in shares of Adidas by 11.5% in the third quarter. Madison Asset Management LLC now owns 20,442 shares of the company’s stock valued at $2,166,000 after purchasing an additional 2,110 shares in the last quarter.

About Adidas

Adidas AG is a global designer, manufacturer and marketer of athletic footwear, apparel and accessories, headquartered in Herzogenaurach, Germany. Founded by Adolf “Adi” Dassler in 1949, the company has grown into one of the world’s leading sportswear brands, offering products for running, soccer, basketball and a wide range of other sports as well as lifestyle and fashion markets.

Adidas’s product portfolio includes performance footwear, sports apparel, team uniforms, equipment and accessories sold under the Adidas brand and through various collaborations.