Adidas AG (ADDYY) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Adidas AG (OTCMKTS:ADDYY) from a buy rating to a hold rating in a research report report published on Monday.

According to Zacks, “Adidas is a leading brand in the sporting goods market with strong positions in footwear, apparel and hardware. Adidas products offer technological innovations and cutting-edge designs to athletes of all skill levels who aspire to achieve peak performance. The adidas brand is structured in three divisions: Forever Sport, Originals and adidas Equipment. “

Several other research analysts also recently weighed in on ADDYY. HSBC Holdings plc upgraded Adidas AG from a hold rating to a buy rating in a research note on Wednesday, July 5th. Raymond James Financial, Inc. upgraded Adidas AG from an underperform rating to a market perform rating in a research note on Thursday, July 6th. Finally, Deutsche Bank AG downgraded Adidas AG from a buy rating to a hold rating and set a $210.00 price target for the company. in a research note on Monday, August 7th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $210.00.

Adidas AG (OTCMKTS:ADDYY) opened at 114.82 on Monday. The company has a 50 day moving average of $114.31 and a 200 day moving average of $104.11. Adidas AG has a 1-year low of $70.61 and a 1-year high of $118.98. The company has a market capitalization of $46.54 billion, a PE ratio of 39.27 and a beta of 1.08.

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Several hedge funds have recently bought and sold shares of ADDYY. Quadrant Capital Group LLC lifted its holdings in Adidas AG by 3.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,771 shares of the company’s stock worth $144,000 after purchasing an additional 54 shares in the last quarter. Cim Investment Mangement Inc. purchased a new stake in Adidas AG during the 1st quarter worth about $215,000. Bahl & Gaynor Inc. lifted its holdings in Adidas AG by 36.0% during the 2nd quarter. Bahl & Gaynor Inc. now owns 11,025 shares of the company’s stock worth $866,000 after purchasing an additional 2,920 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in Adidas AG during the 2nd quarter worth about $332,000. Finally, Smith Asset Management Group LP lifted its holdings in Adidas AG by 131.8% during the 2nd quarter. Smith Asset Management Group LP now owns 6,430 shares of the company’s stock worth $617,000 after purchasing an additional 3,656 shares in the last quarter. Institutional investors own 0.11% of the company’s stock.

Adidas AG Company Profile

Adidas AG and its subsidiaries design, develop, produce and market a range of athletic and sports lifestyle products. The Company’s segments include Western Europe; North America; Greater China; Russia/CIS; Latin America; Japan; Middle East, South Korea, Southeast Asia/Pacific; TaylorMade-adidas Golf; Runtastic and Other centrally managed business.

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