Adidas (OTCMKTS:ADDYY) Stock Gets Downgrade from Zacks Research

Adidas (OTCMKTS:ADDYY – Get Free Report) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday, Zacks reports.

Other research analysts have also issued research reports about the company. Sanford C. Bernstein reissued an “outperform” rating and set a $146.00 price objective on shares of Adidas in a report on Friday, October 2nd. UBS Group cut shares of Adidas from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 4th. Barclays raised shares of Adidas from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, September 1st. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Adidas in a research report on Tuesday, June 30th. Finally, Telsey Advisory Group restated an “outperform” rating on shares of Adidas in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Adidas currently has an average rating of “Moderate Buy” and an average target price of $146.00.

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Adidas Price Performance

Adidas stock opened at $86.04 on Tuesday. Adidas has a 52 week low of $75.19 and a 52 week high of $118.00. The business has a 50-day simple moving average of $86.04 and a 200 day simple moving average of $90.34. The company has a quick ratio of 0.74, a current ratio of 1.39 and a debt-to-equity ratio of 0.39. The stock has a market cap of $30.74 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 1.26 and a beta of 1.24.

Adidas (OTCMKTS:ADDYY – Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.16). Adidas had a return on equity of 22.35% and a net margin of 5.30%. The business had revenue of $7.76 billion during the quarter, compared to the consensus estimate of $7.55 billion. On average, research analysts forecast that Adidas will post 5.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adidas

An institutional investor recently raised its position in Adidas stock. GAMMA Investing LLC lifted its position in shares of Adidas AG (OTCMKTS:ADDYY – Free Report) by 7.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,249 shares of the company’s stock after buying an additional 148 shares during the period. GAMMA Investing LLC’s holdings in Adidas were worth $185,000 as of its most recent SEC filing.

About Adidas

(Get Free Report)

adidas AG is a Germany-based global sporting goods company headquartered in Herzogenaurach, Bavaria. Founded by Adolf “Adi” Dassler in 1949, the company develops, designs and markets athletic footwear, apparel and sports accessories under the adidas brand.

Its products serve a broad range of sports and activities, including football, running, basketball, training, tennis and outdoor pursuits. adidas also offers lifestyle footwear and clothing that combine sports-inspired designs with everyday fashion.

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