adidas (OTCMKTS:ADDYY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, November 14th.
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. “
Other research analysts have also issued research reports about the company. Deutsche Bank lowered adidas from a “buy” rating to a “hold” rating and set a $210.00 price objective on the stock. in a report on Monday, August 7th. Pivotal Research reaffirmed a “hold” rating on shares of adidas in a report on Monday, November 6th. Wedbush started coverage on adidas in a report on Tuesday, October 24th. They issued a “neutral” rating on the stock. Robert W. Baird lowered their target price on adidas from $205.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, November 10th. Finally, Wells Fargo & Company started coverage on adidas in a report on Tuesday, November 7th. They issued an “outperform” rating and a $220.00 target price on the stock. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $189.00.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. raised its position in adidas by 37.4% in the 3rd quarter. Pacer Advisors Inc. now owns 4,751 shares of the company’s stock valued at $538,000 after purchasing an additional 1,294 shares during the last quarter. Wellington Shields Capital Management LLC bought a new position in adidas in the 3rd quarter valued at $226,000. Wellington Shields & Co. LLC bought a new position in adidas in the 3rd quarter valued at $232,000. Quadrant Capital Group LLC raised its position in adidas by 3.1% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,771 shares of the company’s stock valued at $144,000 after purchasing an additional 54 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in adidas by 6.0% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 295,876 shares of the company’s stock valued at $28,395,000 after purchasing an additional 16,723 shares during the last quarter. Hedge funds and other institutional investors own 0.09% of the company’s stock.
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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