Adidas (OTCMKTS:ADDYY) Rating Increased to Strong-Buy at Benchmark

Adidas (OTCMKTS:ADDYY) was upgraded by analysts at Benchmark to a “strong-buy” rating in a research report issued on Tuesday, Zacks reports.

Several other equities research analysts also recently weighed in on ADDYY. Royal Bank Of Canada raised Adidas from a “sector perform” rating to an “outperform” rating in a report on Wednesday, June 10th. Telsey Advisory Group restated an “outperform” rating on shares of Adidas in a research note on Friday, July 31st. Piper Sandler restated an “overweight” rating on shares of Adidas in a research note on Wednesday, July 15th. Citigroup raised shares of Adidas from a “buy” rating to an “overweight” rating in a report on Tuesday, September 1st. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Adidas in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Adidas presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.02.

Adidas Trading Down 2.9%

Shares of OTCMKTS ADDYY opened at $82.03 on Tuesday. Adidas has a 1-year low of $75.19 and a 1-year high of $118.00. The business has a fifty day moving average price of $90.97 and a 200 day moving average price of $89.99. The stock has a market capitalization of $29.31 billion, a P/E ratio of 18.07, a price-to-earnings-growth ratio of 1.19 and a beta of 1.25. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.39 and a quick ratio of 0.74.

Adidas (OTCMKTS:ADDYY) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.16). The firm had revenue of $7.76 billion during the quarter, compared to the consensus estimate of $7.55 billion. Adidas had a net margin of 5.30% and a return on equity of 22.35%. Equities research analysts expect that Adidas will post 5.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Adidas

An institutional investor recently raised its position in Adidas stock. GAMMA Investing LLC lifted its position in shares of Adidas AG (OTCMKTS:ADDYY) by 53.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,101 shares of the company’s stock after buying an additional 732 shares during the period. GAMMA Investing LLC’s holdings in Adidas were worth $216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Adidas Company Profile

Adidas AG is a global sporting goods company headquartered in Herzogenaurach, Germany. The company designs, manufactures and markets athletic and lifestyle footwear, apparel and accessories under the adidas brand, serving consumers, athletes, teams and sports organizations worldwide.

Its products cover sports including football, running, basketball, training and outdoor activities, as well as casual and streetwear categories. Adidas distributes its products through wholesale partners, company-operated stores and digital commerce channels across markets in Europe, North America, Asia-Pacific, Latin America and other regions.

The company was founded by Adolf “Adi” Dassler in 1949, following his earlier work developing sports shoes.