Adidas AG (OTCMKTS:ADDYY) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Adidas AG received an average analyst rating of “Moderate Buy” from 10 covering analysts, with 7 buy ratings, 2 hold ratings, and 1 sell rating. The consensus 12-month price target is $146.02.
• Several firms recently turned more positive on the stock, including JPMorgan starting coverage at overweight and Royal Bank of Canada upgrading Adidas to outperform. Deutsche Bank reiterated a buy rating, while Zacks Research moved the stock up to hold from strong sell.
• Adidas also reported solid quarterly results, posting $1.58 EPS versus the $1.53 estimate and revenue of $7.71 billion versus the $7.36 billion forecast. The stock was trading around $103.80, up 0.6% on the day, after an institution increased its stake by 7.0% in the first quarter.

Adidas AG (OTCMKTS:ADDYY - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the ten analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $146.02.

ADDYY has been the subject of several recent research reports. JPMorgan Chase & Co. started coverage on Adidas in a report on Thursday, July 2nd. They issued an "overweight" rating for the company. Royal Bank Of Canada upgraded shares of Adidas from a "sector perform" rating to an "outperform" rating in a report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Adidas in a report on Tuesday, June 30th. Finally, Zacks Research raised shares of Adidas from a "strong sell" rating to a "hold" rating in a research report on Monday, May 4th.

Hedge Funds Weigh In On Adidas

An institutional investor recently raised its stake in Adidas stock. Madison Asset Management LLC boosted its stake in shares of Adidas AG (OTCMKTS:ADDYY - Free Report) by 7.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,125 shares of the company's stock after buying an additional 1,582 shares during the period. Madison Asset Management LLC's holdings in Adidas were worth $1,935,000 as of its most recent filing with the Securities & Exchange Commission.

Adidas Trading Up 0.6%

Shares of OTCMKTS ADDYY opened at $103.80 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.32 and a debt-to-equity ratio of 0.33. The business has a fifty day simple moving average of $95.32 and a two-hundred day simple moving average of $90.27. The firm has a market cap of $37.09 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 1.36 and a beta of 1.24. Adidas has a twelve month low of $75.19 and a twelve month high of $125.69.

Adidas (OTCMKTS:ADDYY - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.53 by $0.05. Adidas had a return on equity of 23.53% and a net margin of 5.52%.The business had revenue of $7.71 billion for the quarter, compared to the consensus estimate of $7.36 billion. Analysts expect that Adidas will post 5.48 earnings per share for the current fiscal year.

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.

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