adidas (ADDYY) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of adidas (OTCMKTS:ADDYY) from a buy rating to a hold rating in a research report report published on Friday morning.

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 equities analysts have also recently weighed in on ADDYY. Wedbush initiated coverage on adidas in a research note on Tuesday, October 24th. They set a neutral rating on the stock. Pivotal Research reaffirmed a hold rating on shares of adidas in a research note on Monday, November 6th. Wells Fargo & Co initiated coverage on adidas in a research note on Tuesday, November 7th. They set an outperform rating and a $220.00 target price on the stock. Finally, 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 research note on Friday, November 10th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $185.75.

adidas (OTCMKTS ADDYY) opened at $111.80 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.38. adidas has a 12 month low of $76.41 and a 12 month high of $118.98. The firm has a market capitalization of $45,052.94, a PE ratio of 36.06, a price-to-earnings-growth ratio of 1.29 and a beta of 1.07.

adidas (OTCMKTS:ADDYY) last released its earnings results on Thursday, November 9th. The company reported $1.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.55 by $0.02. adidas had a return on equity of 20.96% and a net margin of 5.43%. equities research analysts forecast that adidas will post 3.95 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC lifted its holdings in adidas by 3.1% in 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 during the last quarter. Pacer Advisors Inc. lifted its holdings in adidas by 37.4% in the 3rd quarter. Pacer Advisors Inc. now owns 4,751 shares of the company’s stock worth $538,000 after purchasing an additional 1,294 shares during the last quarter. Wellington Shields Capital Management LLC acquired a new stake in adidas in the 3rd quarter worth approximately $226,000. Wellington Shields & Co. LLC acquired a new stake in adidas in the 3rd quarter worth approximately $232,000. Finally, Parametric Portfolio Associates LLC lifted its holdings in adidas by 6.0% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 295,876 shares of the company’s stock worth $28,395,000 after purchasing an additional 16,723 shares during the last quarter. Institutional investors and hedge funds own 0.09% of the company’s stock.

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About adidas

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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