Adidas (OTCMKTS:ADDYY) Coverage Initiated at JPMorgan Chase & Co.

Equities research analysts at JPMorgan Chase & Co. began coverage on shares of Adidas (OTCMKTS:ADDYY) in a report released on Thursday. The brokerage set an “overweight” rating on the stock.

ADDYY has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Adidas in a research note on Tuesday. Royal Bank Of Canada raised Adidas from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, June 10th. Finally, Zacks Research upgraded Adidas from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.02.

Adidas Trading Up 2.8%

OTCMKTS ADDYY traded up $2.88 on Thursday, reaching $105.71. The company had a trading volume of 8,782 shares, compared to its average volume of 95,217. Adidas has a 52 week low of $75.19 and a 52 week high of $125.69. The stock’s 50 day moving average is $92.54 and its 200-day moving average is $89.96. The company has a quick ratio of 0.68, a current ratio of 1.32 and a debt-to-equity ratio of 0.33. The stock has a market cap of $37.77 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 1.41 and a beta of 1.24.

Adidas (OTCMKTS:ADDYY) last issued its earnings results on Wednesday, April 29th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.05. The firm had revenue of $7.71 billion for the quarter, compared to analysts’ expectations of $7.36 billion. Adidas had a return on equity of 23.53% and a net margin of 5.52%. Equities analysts predict that Adidas will post 5.49 earnings per share for the current year.

Hedge Funds Weigh In On Adidas

An institutional investor recently raised its position in Adidas stock. Madison Asset Management LLC raised its stake in Adidas AG (OTCMKTS:ADDYY) by 7.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,125 shares of the company’s stock after purchasing an additional 1,582 shares during the quarter. Madison Asset Management LLC’s holdings in Adidas were worth $1,935,000 at the end of the most recent reporting period.

Adidas Company Profile

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.