Piper Sandler Initiates Coverage on adidas (OTCMKTS:ADDYY)

Piper Sandler began coverage on shares of adidas (OTCMKTS:ADDYY - Free Report) in a report released on Monday, MarketBeat Ratings reports. The brokerage issued an overweight rating on the stock.

Several other equities research analysts have also commented on the stock. Berenberg Bank upgraded shares of adidas to a "hold" rating in a research note on Tuesday, April 15th. Bank of America raised adidas from a "neutral" rating to a "buy" rating in a research report on Thursday, April 24th. Baird R W raised adidas from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 21st. Sanford C. Bernstein raised shares of adidas from a "market perform" rating to an "outperform" rating in a report on Monday, January 6th. Finally, Hsbc Global Res upgraded shares of adidas from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy".

adidas Stock Up 0.8 %

Shares of adidas stock traded up $0.97 during trading on Monday, reaching $117.16. 34,979 shares of the company traded hands, compared to its average volume of 56,893. adidas has a 1-year low of $99.40 and a 1-year high of $137.73. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.78. The firm has a market capitalization of $41.84 billion, a PE ratio of 90.12 and a beta of 1.24. The company has a 50 day moving average price of $117.87 and a 200-day moving average price of $121.96.

adidas (OTCMKTS:ADDYY - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.01. adidas had a return on equity of 7.39% and a net margin of 1.91%. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $6.33 billion. As a group, equities research analysts expect that adidas will post 2.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On adidas

Large investors have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of adidas by 13.3% during the fourth quarter. GAMMA Investing LLC now owns 897 shares of the company's stock worth $109,000 after acquiring an additional 105 shares in the last quarter. Rhumbline Advisers lifted its stake in adidas by 7.9% in the first quarter. Rhumbline Advisers now owns 9,655 shares of the company's stock worth $1,139,000 after purchasing an additional 709 shares during the last quarter. Mar Vista Investment Partners LLC boosted its position in adidas by 2.6% during the fourth quarter. Mar Vista Investment Partners LLC now owns 29,199 shares of the company's stock valued at $3,556,000 after buying an additional 731 shares during the period. Finally, Madison Investment Advisors LLC bought a new position in shares of adidas during the fourth quarter valued at about $2,437,000.

adidas Company Profile

adidas AG, together with its subsidiaries, designs, develops, produces, and markets athletic and sports lifestyle products in Europe, the Middle East, Africa, North America, Greater China, the Asia-Pacific, and Latin America. It offers footwear, apparel, and accessories and gear, such as bags and balls under the adidas brand; golf footwear and apparel under the adidas Golf brand; and outdoor footwear under the Five Ten brand.