Adidas (OTCMKTS:ADDYY) Upgraded to Hold at Zacks Research

Adidas (OTCMKTS:ADDYY) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks reports.

Several other research firms have also weighed in on ADDYY. Telsey Advisory Group reaffirmed an “outperform” rating on shares of Adidas in a research report on Friday, July 31st. Citigroup reissued a “buy” rating on shares of Adidas in a report on Wednesday, October 21st. Sanford C. Bernstein reissued an “outperform” rating and issued a $146.00 target price on shares of Adidas in a research note on Friday, October 2nd. Benchmark raised shares of Adidas to a “strong-buy” rating in a research note on Tuesday, September 22nd. Finally, Piper Sandler restated an “overweight” rating on shares of Adidas in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Adidas presently has an average rating of “Moderate Buy” and a consensus price target of $146.00.

Adidas Price Performance

OTCMKTS:ADDYY opened at $97.49 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.74 and a current ratio of 1.39. The stock’s 50-day simple moving average is $87.38 and its 200 day simple moving average is $89.80. The company has a market cap of $34.84 billion, a P/E ratio of 18.29, a P/E/G ratio of 1.15 and a beta of 1.23. Adidas has a 52-week low of $75.19 and a 52-week high of $107.57.

Hedge Funds Weigh In On Adidas

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its position in Adidas by 7.0% during the third quarter. GAMMA Investing LLC now owns 2,249 shares of the company’s stock worth $185,000 after buying an additional 148 shares during the last quarter. Madison Asset Management LLC lifted its position in shares of Adidas by 7.0% in the first quarter. Madison Asset Management LLC now owns 24,125 shares of the company’s stock valued at $1,935,000 after buying an additional 1,582 shares during the last quarter. Finally, Sterling Capital Management LLC acquired a new stake in shares of Adidas in the third quarter valued at approximately $336,000.

About Adidas

Adidas AG is a German sporting goods company that designs, develops and markets athletic footwear, apparel and accessories. Its products serve both performance-focused athletes and consumers seeking sports-inspired lifestyle products. Founded in 1949 by Adolf Dassler, the company is headquartered in Herzogenaurach, Germany. Adidas sells its products around the world through wholesale partners and its own retail stores and digital channels. The company is led by CEO Bjørn Gulden. Its offerings span categories including running, football, training and other sports, alongside lifestyle footwear and apparel.