Adidas AG (OTCMKTS:ADDYY) has received a consensus recommendation of “Buy” from the eleven research firms that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $152.50.
A number of equities research analysts have weighed in on the stock. HSBC Holdings plc upgraded shares of Adidas AG from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Raymond James Financial, Inc. upgraded shares of Adidas AG from an “underperform” rating to a “market perform” rating in a report on Thursday, July 6th. Finally, Deutsche Bank AG cut shares of Adidas AG 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.
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Several hedge funds and other institutional investors have recently modified their holdings of ADDYY. Cim Investment Mangement Inc. bought a new position in shares of Adidas AG in the first quarter worth approximately $215,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of Adidas AG in the first quarter worth approximately $3,474,000. Smith Asset Management Group LP lifted its stake in shares of Adidas AG by 131.8% in the second quarter. Smith Asset Management Group LP now owns 6,430 shares of the company’s stock worth $617,000 after buying an additional 3,656 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of Adidas AG in the second quarter worth approximately $332,000. Finally, NorthCoast Asset Management LLC bought a new position in shares of Adidas AG in the second quarter worth approximately $2,043,000. Hedge funds and other institutional investors own 0.11% of the company’s stock.
About Adidas AG
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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