Adidas (OTCMKTS:ADDYY) Upgraded to Buy at Jefferies Financial Group

Key Points

• Adidas was upgraded by Jefferies Financial Group from a "hold" to a "buy" rating, further supported by a "strong-buy" upgrade from DZ Bank, indicating growing confidence in the stock.
• The company reported earnings of $1.15 per share for its last quarter, exceeding estimates and achieving revenue of $6.86 billion, suggesting a positive financial trajectory.
• Adidas stock has a market cap of $35.53 billion and recently traded at $99.49, showing fluctuations in trading volume and performance over the past year.

Adidas (OTCMKTS:ADDYY - Get Free Report) was upgraded by research analysts at Jefferies Financial Group from a "hold" rating to a "buy" rating in a note issued to investors on Wednesday,Briefing.com Automated Import reports.

Separately, DZ Bank upgraded shares of Adidas from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Adidas currently has an average rating of "Buy".

Adidas Stock Performance

ADDYY stock traded up $3.40 on Wednesday, hitting $99.49. The company's stock had a trading volume of 44,608 shares, compared to its average volume of 65,708. The firm has a 50 day moving average of $108.47 and a two-hundred day moving average of $116.01. Adidas has a 1 year low of $94.33 and a 1 year high of $137.73. The stock has a market cap of $35.53 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 0.53 and a beta of 1.16. The company has a current ratio of 1.29, a quick ratio of 0.72 and a debt-to-equity ratio of 0.31.

Adidas (OTCMKTS:ADDYY - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. Adidas had a net margin of 4.93% and a return on equity of 20.68%. The firm had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.30 billion. Equities analysts predict that Adidas will post 2.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Adidas

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mar Vista Investment Partners LLC grew its stake in shares of Adidas by 4.0% during the 2nd quarter. Mar Vista Investment Partners LLC now owns 30,337 shares of the company's stock worth $3,550,000 after purchasing an additional 1,180 shares during the period. Yousif Capital Management LLC grew its stake in shares of Adidas by 9.4% during the 2nd quarter. Yousif Capital Management LLC now owns 5,221 shares of the company's stock worth $607,000 after purchasing an additional 450 shares during the period. GAMMA Investing LLC grew its stake in Adidas by 30.1% in the 2nd 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 last quarter. Finally, Rhumbline Advisers grew its stake in Adidas by 7.9% in the 1st quarter. Rhumbline Advisers now owns 9,655 shares of the company's stock valued at $1,139,000 after acquiring an additional 709 shares during the last quarter.

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.

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