Zacks Investment Research Lowers Adidas AG (ADDYY) to Hold
Adidas AG (OTCMKTS:ADDYY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to 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. “
ADDYY has been the topic of a number of other research reports. Deutsche Bank AG downgraded Adidas AG from a “buy” rating to a “hold” rating and set a $210.00 price objective on the stock. in a research note on Monday, August 7th. Wedbush began coverage on Adidas AG in a research note on Tuesday, October 24th. They issued a “neutral” rating on the stock. Finally, Raymond James Financial, Inc. raised Adidas AG from an “underperform” rating to a “market perform” rating in a research report on Thursday, July 6th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $168.00.
Shares of Adidas AG (ADDYY) traded down $0.43 during midday trading on Friday, reaching $108.65. The company’s stock had a trading volume of 26,543 shares, compared to its average volume of 75,660. The company has a quick ratio of 0.79, a current ratio of 1.33 and a debt-to-equity ratio of 0.16. Adidas AG has a 1 year low of $70.61 and a 1 year high of $118.98. The stock has a market capitalization of $45,640.00, a P/E ratio of 34.49, a P/E/G ratio of 1.32 and a beta of 1.16.
Institutional investors and hedge funds have recently modified their holdings of the company. Smith Asset Management Group LP grew its position in Adidas AG by 131.8% during the 2nd quarter. Smith Asset Management Group LP now owns 6,430 shares of the company’s stock worth $617,000 after acquiring an additional 3,656 shares during the last quarter. Pacer Advisors Inc. bought a new stake in Adidas AG during the 2nd quarter worth approximately $332,000. NorthCoast Asset Management LLC bought a new position in Adidas AG in the 2nd quarter valued at $2,043,000. Bahl & Gaynor Inc. boosted its position in Adidas AG by 36.0% in the 2nd quarter. Bahl & Gaynor Inc. now owns 11,025 shares of the company’s stock valued at $866,000 after buying an additional 2,920 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in Adidas AG by 6.0% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 295,876 shares of the company’s stock valued at $28,395,000 after buying an additional 16,723 shares during the last quarter. 0.11% of the stock is owned by institutional investors and hedge funds.
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; TaylorMade-adidas Golf; Runtastic and Other centrally managed business.
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