Adidas (OTCMKTS:ADDYY) Upgraded to “Strong-Buy” at Benchmark

Benchmark upgraded shares of Adidas (OTCMKTS:ADDYY) to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks reports.

A number of other equities research analysts have also recently issued reports on ADDYY. Citigroup upgraded shares of Adidas from a “buy” rating to an “overweight” rating in a report on Tuesday, September 1st. JPMorgan Chase & Co. started coverage on Adidas in a research report on Thursday, July 2nd. They set an “overweight” rating for the company. UBS Group downgraded Adidas from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 4th. Robert W. Baird lowered Adidas from a “strong-buy” rating to a “hold” rating in a report on Monday, September 14th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Adidas in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $146.02.

Adidas Trading Down 2.9%

OTCMKTS:ADDYY opened at $82.03 on Tuesday. The company’s 50 day moving average is $90.97 and its 200-day moving average is $89.99. The company has a quick ratio of 0.74, a current ratio of 1.39 and a debt-to-equity ratio of 0.39. Adidas has a 12 month low of $75.19 and a 12 month high of $118.00. The firm has a market cap of $29.31 billion, a price-to-earnings ratio of 18.07, a P/E/G ratio of 1.19 and a beta of 1.25.

Adidas (OTCMKTS:ADDYY) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.16). Adidas had a return on equity of 22.35% and a net margin of 5.30%.The firm had revenue of $7.76 billion for the quarter, compared to the consensus estimate of $7.55 billion. Equities analysts anticipate that Adidas will post 5.3 EPS for the current year.

Institutional Investors Weigh In On Adidas

A hedge fund recently raised its position in Adidas stock. Madison Asset Management LLC boosted its position in shares of Adidas AG (OTCMKTS:ADDYY) by 7.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,125 shares of the company’s stock after acquiring an additional 1,582 shares during the period. Madison Asset Management LLC’s holdings in Adidas were worth $1,935,000 at the end of the most recent quarter.

About Adidas

Adidas AG is a global sporting goods company headquartered in Herzogenaurach, Germany. The company designs, manufactures and markets athletic and lifestyle footwear, apparel and accessories under the adidas brand, serving consumers, athletes, teams and sports organizations worldwide.

Its products cover sports including football, running, basketball, training and outdoor activities, as well as casual and streetwear categories. Adidas distributes its products through wholesale partners, company-operated stores and digital commerce channels across markets in Europe, North America, Asia-Pacific, Latin America and other regions.

The company was founded by Adolf “Adi” Dassler in 1949, following his earlier work developing sports shoes.