Adidas (OTCMKTS:ADDYY) Cut to Sell at UBS Group

Key Points

• UBS Group downgraded Adidas from “neutral” to “sell,” signaling increased concerns about the company’s outlook.
• Analyst sentiment remains mixed: despite UBS’s downgrade and several sell ratings, Adidas has a consensus “Moderate Buy” rating and a $146 average price target.
• Adidas shares opened at $96.27, with a 52-week range of $75.19 to $107.57 and a market capitalization of approximately $34.4 billion.

Adidas (OTCMKTS:ADDYY - Get Free Report) was downgraded by equities researchers at UBS Group from a "neutral" rating to a "sell" rating in a research note issued on Tuesday, Briefing.com reports.

ADDYY has been the topic of a number of other research reports. Morgan Stanley reissued an "overweight" rating on shares of Adidas in a report on Thursday, September 10th. Citigroup reaffirmed a "buy" rating on shares of Adidas in a report on Wednesday, October 21st. Telsey Advisory Group reaffirmed an "outperform" rating on shares of Adidas in a report on Friday, July 31st. Robert W. Baird lowered shares of Adidas from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 14th. Finally, Piper Sandler reissued an "overweight" rating on shares of Adidas in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $146.00.

Adidas Stock Performance

Shares of ADDYY stock opened at $96.27 on Tuesday. The stock's 50-day moving average price is $85.77 and its 200 day moving average price is $89.48. 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 capitalization of $34.40 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 1.16 and a beta of 1.24. Adidas has a 52-week low of $75.19 and a 52-week high of $107.57.

Hedge Funds Weigh In On Adidas

A number of large investors have recently modified their holdings of ADDYY. Sterling Capital Management LLC acquired a new stake in shares of Adidas in the 3rd quarter valued at approximately $336,000. Madison Asset Management LLC boosted its stake in shares of Adidas by 7.0% in the first quarter. Madison Asset Management LLC now owns 24,125 shares of the company's stock valued at $1,935,000 after buying an additional 1,582 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Adidas by 53.5% during the second quarter. GAMMA Investing LLC now owns 2,101 shares of the company's stock worth $216,000 after acquiring an additional 732 shares during the period.

About Adidas

Adidas AG is a Germany-based global sporting goods company that designs, develops, markets and sells athletic footwear, apparel and accessories. Its products serve a broad range of sports and lifestyle categories, including running, football, basketball, training and outdoor activities, as well as casual and fashion-oriented markets.

Founded in 1949 by Adolf “Adi” Dassler, Adidas is headquartered in Herzogenaurach, Germany. The company sells products under the Adidas brand through wholesale partners, company-operated stores, e-commerce platforms and other direct-to-consumer channels.

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