Adidas (OTCMKTS:ADDYY) Rating Increased to Overweight at Barclays

Adidas (OTCMKTS:ADDYY) was upgraded by Barclays from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Tuesday, Briefing.com reports.

A number of other equities analysts have also issued reports on ADDYY. Royal Bank Of Canada upgraded Adidas from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Adidas in a research report on Tuesday, June 30th. JPMorgan Chase & Co. assumed coverage on Adidas in a research report on Thursday, July 2nd. They set an “overweight” rating on the stock. Piper Sandler reaffirmed an “overweight” rating on shares of Adidas in a report on Wednesday, July 15th. Finally, Telsey Advisory Group reissued an “outperform” rating on shares of Adidas in a research note on Friday, July 31st. Ten research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Adidas currently has an average rating of “Moderate Buy” and an average target price of $146.02.

Adidas Trading Down 2.0%

ADDYY stock traded down $1.72 during midday trading on Tuesday, reaching $85.96. The company’s stock had a trading volume of 19,790 shares, compared to its average volume of 98,358. The firm has a market capitalization of $30.72 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 1.22 and a beta of 1.26. Adidas has a 1 year low of $75.19 and a 1 year high of $118.00. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.74 and a current ratio of 1.39. The stock has a fifty day simple moving average of $97.56 and a two-hundred day simple moving average of $90.86.

Adidas (OTCMKTS:ADDYY) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.16). Adidas had a net margin of 5.30% and a return on equity of 22.35%. The company had revenue of $7.76 billion during the quarter, compared to analysts’ expectations of $7.55 billion. On average, equities research analysts predict that Adidas will post 5.35 EPS for the current year.

Institutional Investors Weigh In On Adidas

An institutional investor recently raised its position in Adidas stock. GAMMA Investing LLC grew its holdings in shares of Adidas AG (OTCMKTS:ADDYY) by 53.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,101 shares of the company’s stock after purchasing an additional 732 shares during the period. GAMMA Investing LLC’s holdings in Adidas were worth $216,000 as of its most recent SEC filing.

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.