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

Zacks Research upgraded shares of Adidas (OTCMKTS:ADDYY) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday,Zacks reports.

Several other research firms have also recently issued reports on ADDYY. Piper Sandler reiterated an “overweight” rating on shares of Adidas in a research note on Wednesday, July 15th. Citigroup reaffirmed a “buy” rating on shares of Adidas in a report on Wednesday, October 21st. Sanford C. Bernstein reiterated an “outperform” rating and issued a $146.00 price objective on shares of Adidas in a research report on Friday, October 2nd. UBS Group lowered Adidas from a “neutral” rating to a “sell” rating in a research note on Tuesday, November 3rd. Finally, Telsey Advisory Group reissued an “outperform” rating on shares of Adidas in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $146.00.

Adidas Trading Down 1.1%

Shares of ADDYY opened at $97.49 on Wednesday. The business’s 50-day moving average price is $87.38 and its 200-day moving average price is $89.80. Adidas has a twelve month low of $75.19 and a twelve month high of $107.57. The stock has a market cap of $34.84 billion, a PE ratio of 18.12, a P/E/G ratio of 1.15 and a beta of 1.23. The company has a quick ratio of 0.74, a current ratio of 1.39 and a debt-to-equity ratio of 0.39.

Hedge Funds Weigh In On Adidas

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sterling Capital Management LLC bought a new position in shares of Adidas during the 3rd quarter valued at about $336,000. GAMMA Investing LLC lifted its position in Adidas by 7.0% in the 3rd 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. Finally, Madison Asset Management LLC lifted its position in Adidas by 7.0% in the 1st quarter. Madison Asset Management LLC now owns 24,125 shares of the company’s stock worth $1,935,000 after buying an additional 1,582 shares during the last quarter.

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.