Zacks Investment Research Lowers Adidas AG (ADDYY) to Hold

Zacks Investment Research downgraded shares of Adidas AG (OTCMKTS:ADDYY) from a buy rating to a hold rating in a report issued on Monday.

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. “

A number of other research analysts have also recently commented on ADDYY. Deutsche Bank AG cut Adidas AG from a buy rating to a hold rating and set a $210.00 price objective on the stock. in a report on Monday, August 7th. Raymond James Financial, Inc. upgraded Adidas AG from an underperform rating to a market perform rating in a report on Thursday, July 6th. Finally, HSBC Holdings plc upgraded Adidas AG from a hold rating to a buy rating in a report on Wednesday, July 5th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Adidas AG currently has an average rating of Buy and an average target price of $210.00.

Shares of Adidas AG (OTCMKTS ADDYY) opened at 115.00 on Monday. Adidas AG has a 12 month low of $70.61 and a 12 month high of $118.98. The firm’s 50-day moving average price is $114.21 and its 200-day moving average price is $104.03. The stock has a market capitalization of $46.61 billion, a P/E ratio of 39.34 and a beta of 1.08.

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Several institutional investors have recently bought and sold shares of ADDYY. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Adidas AG during the first quarter worth $3,474,000. NorthCoast Asset Management LLC purchased a new stake in shares of Adidas AG during the second quarter worth $2,043,000. Parametric Portfolio Associates LLC increased its position in shares of Adidas AG by 6.0% during the second quarter. Parametric Portfolio Associates LLC now owns 295,876 shares of the company’s stock worth $28,395,000 after acquiring an additional 16,723 shares during the period. Smith Asset Management Group LP increased its position in shares of Adidas AG by 131.8% during the second 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 period. Finally, Pacer Advisors Inc. purchased a new stake in shares of Adidas AG during the second quarter worth $332,000. 0.11% of the stock is currently owned by institutional investors and hedge funds.

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; TaylorMade-adidas Golf; Runtastic and Other centrally managed business.

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