Adidas (OTCMKTS:ADDYY) Raised to Hold at Zacks Research

Adidas (OTCMKTS:ADDYY) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks reports.

Several other analysts also recently commented on ADDYY. Barclays raised shares of Adidas from an “equal weight” rating to an “overweight” rating in a report on Tuesday, September 1st. UBS Group cut shares of Adidas from a “neutral” rating to a “sell” rating in a report on Tuesday, November 3rd. Citigroup restated a “buy” rating on shares of Adidas in a research report on Wednesday, October 21st. Robert W. Baird cut Adidas from a “strong-buy” rating to a “hold” rating in a report on Monday, September 14th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $146.00 target price on shares of Adidas in a research report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Adidas presently has a consensus rating of “Moderate Buy” and an average target price of $146.00.

Adidas Price Performance

OTCMKTS:ADDYY opened at $97.49 on Wednesday. The company has a market cap of $34.84 billion, a P/E ratio of 18.29, a P/E/G ratio of 1.15 and a beta of 1.23. The firm’s fifty day moving average price is $87.38 and its two-hundred day moving average price is $89.80. Adidas has a one year low of $75.19 and a one year high of $107.57. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.39 and a quick ratio of 0.74.

Institutional Investors Weigh In On Adidas

A number of hedge funds and other institutional investors have recently modified their holdings of ADDYY. Madison Asset Management LLC lifted its holdings in shares of Adidas by 7.0% during the first quarter. Madison Asset Management LLC now owns 24,125 shares of the company’s stock worth $1,935,000 after buying an additional 1,582 shares in the last quarter. Sterling Capital Management LLC acquired a new position in shares of Adidas in the third quarter valued at about $336,000. Finally, GAMMA Investing LLC grew its stake in shares of Adidas by 53.5% in the second quarter. GAMMA Investing LLC now owns 2,101 shares of the company’s stock valued at $216,000 after acquiring an additional 732 shares in the last quarter.

About Adidas

Adidas AG is a German sporting goods company that designs, develops and markets athletic footwear, apparel and accessories. Its products serve both performance-focused athletes and consumers seeking sports-inspired lifestyle products. Founded in 1949 by Adolf Dassler, the company is headquartered in Herzogenaurach, Germany. Adidas sells its products around the world through wholesale partners and its own retail stores and digital channels. The company is led by CEO Bjørn Gulden. Its offerings span categories including running, football, training and other sports, alongside lifestyle footwear and apparel.