adidas (ADDYY) Downgraded by Zacks Investment Research
adidas (OTCMKTS:ADDYY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
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. “
A number of other research firms also recently issued reports on ADDYY. Wedbush assumed coverage on shares of adidas in a research note on Tuesday, October 24th. They set a “neutral” rating on the stock. Pivotal Research reissued a “hold” rating on shares of adidas in a research note on Monday, November 6th. Wells Fargo & Co began coverage on shares of adidas in a research note on Tuesday, November 7th. They issued an “outperform” rating and a $220.00 target price on the stock. Finally, Robert W. Baird dropped their target price on shares of adidas from $205.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, November 10th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $185.75.
adidas (OTCMKTS:ADDYY) last posted its quarterly earnings results on Thursday, November 9th. The company reported $1.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.55 by $0.02. adidas had a net margin of 5.43% and a return on equity of 20.96%. equities research analysts expect that adidas will post 3.88 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC raised 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 valued at $144,000 after buying an additional 54 shares during the period. Wellington Shields Capital Management LLC purchased a new stake in adidas in the third quarter valued at approximately $226,000. Wellington Shields & Co. LLC purchased a new stake in shares of adidas during the third quarter worth approximately $232,000. Pacer Advisors Inc. raised its position in adidas by 37.4% in the third quarter. Pacer Advisors Inc. now owns 4,751 shares of the company’s stock worth $538,000 after acquiring an additional 1,294 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in adidas by 6.0% in the second quarter. Parametric Portfolio Associates LLC now owns 295,876 shares of the company’s stock worth $28,395,000 after acquiring an additional 16,723 shares in the last quarter. 0.09% of the stock is currently owned by institutional investors and hedge funds.
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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