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

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

A number of other brokerages have also commented on ADDYY. Barclays upgraded shares of Adidas from an “equal weight” rating to an “overweight” rating in a report on Tuesday, September 1st. Telsey Advisory Group restated an “outperform” rating on shares of Adidas in a report on Friday, July 31st. Piper Sandler restated an “overweight” rating on shares of Adidas in a report on Wednesday, July 15th. UBS Group lowered Adidas from a “neutral” rating to a “sell” rating in a research report on Tuesday, November 3rd. Finally, Robert W. Baird downgraded Adidas from a “strong-buy” rating to a “hold” rating in a report on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Adidas presently has an average rating of “Moderate Buy” and a consensus target price of $146.00.

Adidas Trading Down 1.1%

ADDYY opened at $97.49 on Wednesday. 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 has a fifty-two week low of $75.19 and a fifty-two week high of $107.57. The company’s 50 day moving average price is $87.38 and its two-hundred day moving average price is $89.80. The firm has a market capitalization of $34.84 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 1.15 and a beta of 1.23.

Institutional Trading of Adidas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Madison Asset Management LLC raised its holdings in Adidas by 7.0% during the 1st quarter. Madison Asset Management LLC now owns 24,125 shares of the company’s stock worth $1,935,000 after purchasing an additional 1,582 shares during the last quarter. Sterling Capital Management LLC acquired a new position in shares of Adidas in the 3rd quarter worth approximately $336,000. Finally, GAMMA Investing LLC lifted its position in shares of Adidas by 53.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,101 shares of the company’s stock worth $216,000 after purchasing an additional 732 shares during the period.

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.