Sanford C. Bernstein Upgrades adidas (OTCMKTS:ADDYY) to “Outperform”

adidas (OTCMKTS:ADDYY) was upgraded by analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a note issued to investors on Monday, Marketbeat reports.

ADDYY has been the topic of a number of other reports. Barclays reiterated an “equal weight” rating on shares of adidas in a research note on Monday, September 9th. HSBC downgraded adidas from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

adidas Stock Performance

Shares of ADDYY stock opened at $125.35 on Monday. The stock’s 50-day moving average is $120.33 and its two-hundred day moving average is $121.96. adidas has a 1 year low of $88.03 and a 1 year high of $134.39. The firm has a market cap of $44.76 billion, a price-to-earnings ratio of 96.42 and a beta of 1.18.

adidas (OTCMKTS:ADDYY) last announced its earnings results on Tuesday, October 29th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.25. The business had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.01 billion. adidas had a net margin of 1.91% and a return on equity of 7.93%. As a group, research analysts predict that adidas will post 2.15 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in adidas stock. GAMMA Investing LLC grew its stake in adidas AG (OTCMKTS:ADDYY) by 29.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 792 shares of the company’s stock after purchasing an additional 180 shares during the quarter. GAMMA Investing LLC’s holdings in adidas were worth $105,000 as of its most recent filing with the SEC.

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.