adidas (OTCMKTS:ADDYY) Upgraded by Morgan Stanley to “Overweight”

adidas (OTCMKTS:ADDYY) was upgraded by Morgan Stanley from an “underweight” rating to an “overweight” rating in a report released on Monday, Marketbeat reports.

Separately, Royal Bank of Canada upgraded shares of adidas from a “sector perform” rating to an “outperform” rating in a report on Monday, February 5th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

adidas Stock Up 4.0 %

Shares of OTCMKTS ADDYY opened at $108.06 on Monday. adidas has a one year low of $79.58 and a one year high of $115.00. The company has a current ratio of 1.22, a quick ratio of 0.66 and a debt-to-equity ratio of 0.49. The firm’s 50 day simple moving average is $104.12 and its two-hundred day simple moving average is $98.91.

adidas (OTCMKTS:ADDYY) last issued its earnings results on Wednesday, March 13th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.36). adidas had a negative return on equity of 2.21% and a negative net margin of 0.33%. The firm had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.22 billion. As a group, sell-side analysts anticipate that adidas will post 1.71 EPS for the current year.

Hedge Funds Weigh In On adidas

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC bought a new stake in adidas in the 4th quarter worth about $45,000. PNC Financial Services Group Inc. increased its position in shares of adidas by 111.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,283 shares of the company’s stock valued at $151,000 after purchasing an additional 675 shares during the last quarter. Comerica Bank purchased a new stake in shares of adidas during the 2nd quarter valued at about $247,000. Rhumbline Advisers purchased a new stake in shares of adidas during the 2nd quarter valued at about $809,000. Finally, Fisher Asset Management LLC increased its position in shares of adidas by 27.5% during the 4th quarter. Fisher Asset Management LLC now owns 12,741 shares of the company’s stock valued at $1,296,000 after purchasing an additional 2,749 shares during the last quarter.

adidas Company Profile

adidas AG, together with its subsidiaries, designs, develops, produces, and markets athletic and sports lifestyle products in Europe, the Middle East, Africa, North America, Greater China, the Asia-Pacific, and Latin America. It offers footwear, apparel, and accessories and gear, such as bags and balls under the adidas brand; golf footwear and apparel under the adidas Golf brand; and outdoor footwear under the Five Ten brand.