Bank of America Reiterates “Underperform” Rating for Adidas (OTCMKTS:ADDYY)

Adidas (OTCMKTS:ADDYY)‘s stock had its “underperform” rating reiterated by equities research analysts at Bank of America in a note issued to investors on Tuesday, MarketBeat.com reports.

A number of other research firms have also issued reports on ADDYY. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Adidas in a report on Wednesday, December 10th. BTIG Research started coverage on Adidas in a research report on Tuesday, October 14th. They set a “neutral” rating for the company. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $146.02.

Adidas Price Performance

ADDYY opened at $93.58 on Tuesday. The stock’s 50-day moving average price is $94.43 and its 200 day moving average price is $103.38. Adidas has a 12-month low of $86.28 and a 12-month high of $137.73. The firm has a market cap of $33.42 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 0.39 and a beta of 1.20. The company has a current ratio of 1.31, a quick ratio of 0.71 and a debt-to-equity ratio of 0.31.

Adidas (OTCMKTS:ADDYY) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.07). Adidas had a return on equity of 20.72% and a net margin of 5.00%.The business had revenue of $7.73 billion for the quarter, compared to analysts’ expectations of $6.22 billion. As a group, sell-side analysts expect that Adidas will post 2.27 earnings per share for the current year.

Institutional Investors Weigh In On Adidas

Several institutional investors have recently added to or reduced their stakes in ADDYY. Mar Vista Investment Partners LLC lifted its position in Adidas by 4.0% in the second quarter. Mar Vista Investment Partners LLC now owns 30,337 shares of the company’s stock valued at $3,550,000 after acquiring an additional 1,180 shares during the last quarter. Madison Asset Management LLC grew its stake in Adidas by 11.5% during the 3rd quarter. Madison Asset Management LLC now owns 20,442 shares of the company’s stock worth $2,166,000 after buying an additional 2,110 shares during the last quarter. Rhumbline Advisers increased its position in Adidas by 7.9% during the first quarter. Rhumbline Advisers now owns 9,655 shares of the company’s stock worth $1,139,000 after buying an additional 709 shares during the period. Yousif Capital Management LLC lifted its stake in Adidas by 9.4% in the second quarter. Yousif Capital Management LLC now owns 5,221 shares of the company’s stock valued at $607,000 after buying an additional 450 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Adidas by 30.1% in the second quarter. GAMMA Investing LLC now owns 1,375 shares of the company’s stock valued at $161,000 after acquiring an additional 318 shares during the period.

Adidas Company Profile

Adidas AG is a global designer, manufacturer and marketer of athletic footwear, apparel and accessories, headquartered in Herzogenaurach, Germany. Founded by Adolf “Adi” Dassler in 1949, the company has grown into one of the world’s leading sportswear brands, offering products for running, soccer, basketball and a wide range of other sports as well as lifestyle and fashion markets.

Adidas’s product portfolio includes performance footwear, sports apparel, team uniforms, equipment and accessories sold under the Adidas brand and through various collaborations.