adidas AG’s (ADDYY) “Equal Weight” Rating Reaffirmed at Morgan Stanley
adidas AG (NASDAQ:ADDYY)‘s stock had its “equal weight” rating reaffirmed by analysts at Morgan Stanley in a research note issued on Tuesday.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded adidas AG from a “hold” rating to a “buy” rating and set a $97.00 price target on the stock in a report on Monday, October 3rd. Goldman Sachs Group Inc. reissued a “buy” rating on shares of adidas AG in a research report on Thursday, July 28th. Barclays PLC reissued a “hold” rating on shares of adidas AG in a research report on Tuesday, October 4th. HSBC cut adidas AG from a “buy” rating to a “hold” rating in a research report on Friday, September 2nd. Finally, Robert W. Baird cut adidas AG to a “neutral” rating and set a $80.00 price objective for the company. in a research report on Friday, September 2nd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. adidas AG currently has a consensus rating of “Hold” and a consensus target price of $88.50.
Shares of adidas AG (NASDAQ:ADDYY) traded up 1.22% during midday trading on Tuesday, reaching $86.91. The company’s stock had a trading volume of 5,355 shares. The stock has a 50-day moving average of $85.07 and a 200 day moving average of $73.71. adidas AG has a 12-month low of $43.56 and a 12-month high of $88.85. The firm has a market capitalization of $34.80 billion and a P/E ratio of 34.71.
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A number of hedge funds and other institutional investors have recently modified their holdings of ADDYY. Parametric Portfolio Associates LLC boosted 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. Teachers Retirement System of The State of Kentucky purchased a new position in shares of adidas AG during the second quarter valued at approximately $2,237,000. Todd Asset Management LLC purchased a new position in shares of adidas AG during the second quarter valued at approximately $2,237,000. World Asset Management Inc boosted 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. Finally, Sterling Capital Management LLC purchased a new position in shares of adidas AG during the second quarter valued at approximately $249,000.
About adidas AG
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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