Adidas (OTCMKTS:ADDYY) Upgraded to Hold at Zacks Research

Adidas (OTCMKTS:ADDYY - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Monday,Zacks.com reports.

A number of other analysts also recently weighed in on the stock. Santander initiated coverage on shares of Adidas in a research report on Thursday, January 15th. They set an "outperform" rating for the company. Royal Bank Of Canada reissued a "sector perform" rating on shares of Adidas in a research report on Tuesday. Bank of America reissued an "underperform" rating on shares of Adidas in a research report on Tuesday, January 6th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $146.02 target price on shares of Adidas in a report on Tuesday, January 6th. Finally, Citigroup reiterated a "buy" rating on shares of Adidas in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $146.02.

Adidas Stock Performance

OTCMKTS:ADDYY opened at $84.00 on Monday. The company has a market capitalization of $30.02 billion, a PE ratio of 18.50, a P/E/G ratio of 1.14 and a beta of 1.22. The company has a 50 day simple moving average of $82.40 and a two-hundred day simple moving average of $90.53. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.68 and a current ratio of 1.32. Adidas has a fifty-two week low of $75.19 and a fifty-two week high of $126.59.

Adidas (OTCMKTS:ADDYY - Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.53 by $0.05. The business had revenue of $7.71 billion during the quarter, compared to the consensus estimate of $7.36 billion. Adidas had a net margin of 5.52% and a return on equity of 23.53%. Research analysts anticipate that Adidas will post 5.46 earnings per share for the current year.

Hedge Funds Weigh In On Adidas

An institutional investor recently raised its position in Adidas stock. Madison Asset Management LLC grew its holdings in shares of Adidas AG (OTCMKTS:ADDYY - Free Report) by 11.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,442 shares of the company's stock after purchasing an additional 2,110 shares during the quarter. Madison Asset Management LLC's holdings in Adidas were worth $2,166,000 at the end of the most recent reporting period.

About Adidas

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.