adidas AG (ADDYY) Given Equal Weight Rating at Morgan Stanley
adidas AG (NASDAQ:ADDYY)‘s stock had its “equal weight” rating reissued by investment analysts at Morgan Stanley in a report released on Tuesday.
A number of other equities research analysts have also recently commented on the company. Goldman Sachs Group Inc. reissued a “buy” rating on shares of adidas AG in a report on Thursday, July 28th. Piper Jaffray Cos. initiated coverage on adidas AG in a research report on Thursday, October 13th. They set an “overweight” rating for the company. Robert W. Baird lowered adidas AG to a “neutral” rating and set a $80.00 price objective for the company. in a research report on Friday, September 2nd. Zacks Investment Research upgraded adidas AG from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a research report on Monday, October 3rd. Finally, Barclays PLC restated a “hold” rating on shares of adidas AG in a research report on Tuesday, October 4th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $88.50.
adidas AG (NASDAQ:ADDYY) traded up 1.22% on Tuesday, reaching $86.91. The company’s stock had a trading volume of 5,355 shares. adidas AG has a one year low of $43.56 and a one year high of $88.85. The firm has a 50-day moving average of $85.07 and a 200-day moving average of $73.71. The company has a market capitalization of $34.80 billion and a PE ratio of 34.71.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Todd Asset Management LLC bought a new position in adidas AG during the second quarter valued at approximately $2,237,000. World Asset Management Inc raised its position in shares of 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. Reliance Trust Co. of Delaware acquired a new position in shares of adidas AG during the second quarter valued at about $236,000. Parametric Portfolio Associates LLC raised its position in shares of 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. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in shares of adidas AG during the second quarter valued at about $2,237,000.
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.
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