ADIDAS AG/S (OTCMKTS:ADDYY) Cut to Hold at Zacks Investment Research

ADIDAS AG/S (OTCMKTS:ADDYY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

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. “

ADDYY has been the subject of several other research reports. HSBC downgraded shares of ADIDAS AG/S from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Berenberg Bank upgraded shares of ADIDAS AG/S from a “hold” rating to a “buy” rating in a research note on Wednesday, June 26th. ValuEngine upgraded shares of ADIDAS AG/S from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Royal Bank of Canada restated an “outperform” rating on shares of ADIDAS AG/S in a research note on Tuesday, July 16th. They noted that the move was a valuation call. Finally, Credit Suisse Group lowered shares of ADIDAS AG/S from an “outperform” rating to a “neutral” rating in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $154.00.

Shares of ADDYY traded down $4.70 during midday trading on Wednesday, hitting $142.00. The company had a trading volume of 70,842 shares, compared to its average volume of 43,073. The firm has a 50 day moving average price of $155.52. The stock has a market cap of $56.56 billion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 1.80 and a beta of 0.69. ADIDAS AG/S has a 52 week low of $101.48 and a 52 week high of $165.01. The company has a current ratio of 1.39, a quick ratio of 0.95 and a debt-to-equity ratio of 0.23.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Boston Common Asset Management LLC boosted its holdings in ADIDAS AG/S by 29.5% in the 1st quarter. Boston Common Asset Management LLC now owns 2,895 shares of the company’s stock valued at $352,000 after purchasing an additional 660 shares during the period. Private Capital Group LLC boosted its holdings in ADIDAS AG/S by 182.3% in the 1st quarter. Private Capital Group LLC now owns 1,101 shares of the company’s stock valued at $134,000 after purchasing an additional 711 shares during the period. Quadrant Capital Group LLC boosted its holdings in ADIDAS AG/S by 32.3% in the 1st quarter. Quadrant Capital Group LLC now owns 5,418 shares of the company’s stock valued at $644,000 after purchasing an additional 1,324 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in ADIDAS AG/S by 2.6% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 392,963 shares of the company’s stock valued at $60,599,000 after purchasing an additional 10,126 shares during the period. Finally, Todd Asset Management LLC bought a new stake in ADIDAS AG/S in the 1st quarter valued at $2,876,000. 0.14% of the stock is owned by institutional investors and hedge funds.

ADIDAS AG/S Company Profile

adidas AG, together with its subsidiaries, designs, develops, produces, and markets athletic and sports lifestyle products worldwide. The company operates in 10 segments: Europe, North America Adidas, North America Reebok, Asia-Pacific, Latin America, Emerging Markets, Russia/CIS, Adidas Golf, Runtastic, and Other Centrally Managed Businesses.

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