adidas AG (ADDYY) Lowered to “Hold” at Zacks Investment Research
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 reports. Goldman Sachs Group Inc. reissued a buy rating on shares of adidas AG in a research report on Thursday, July 28th. Morgan Stanley reissued a hold rating on shares of adidas AG in a research report on Saturday, June 4th. HSBC downgraded shares of adidas AG from a buy rating to a hold rating in a research report on Friday, September 2nd. Finally, Robert W. Baird downgraded shares of adidas AG to a neutral rating and set a $80.00 target price for the company. in a research report on Friday, September 2nd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. adidas AG currently has a consensus rating of Hold and a consensus target price of $83.50.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC purchased a new position in adidas AG during the second quarter valued at $249,000. Teachers Retirement System of The State of Kentucky purchased a new position in adidas AG during the second quarter valued at $2,237,000. Parametric Portfolio Associates LLC boosted its position in adidas AG by 3.8% in the second quarter. Parametric Portfolio Associates LLC now owns 213,107 shares of the company’s stock valued at $15,278,000 after buying an additional 7,897 shares during the period. Reliance Trust Co. of Delaware purchased a new position in adidas AG during the second quarter valued at $236,000. Finally, World Asset Management Inc boosted its position in adidas AG by 8.3% in the second quarter. World Asset Management Inc now owns 25,896 shares of the company’s stock valued at $1,848,000 after buying an additional 1,988 shares during the period.
adidas AG Company Profile
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 (MEAA); TaylorMade-adidas Golf; Reebok-CCM Hockey; Runtastic, and Other centrally managed business.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for adidas AG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for adidas AG and related companies with MarketBeat.com's FREE daily email newsletter.