Adidas (OTCMKTS:ADDYY) Downgraded by Zacks Research to Strong Sell

Key Points

• Zacks Research downgraded Adidas to “strong sell” from “hold,” while other firms also recently lowered their ratings. Despite this, the broader analyst consensus remains “Moderate Buy” with an average price target of $146.
• Adidas shares opened at $86.04, near their 50-day moving average and below the 200-day average of $90.34. The stock has traded between $75.19 and $118.00 over the past 12 months.
• The company’s latest quarterly earnings missed expectations, with EPS of $1.22 versus the $1.38 consensus, although revenue of $7.76 billion exceeded estimates of $7.55 billion.

Adidas (OTCMKTS:ADDYY - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Tuesday, Zacks reports.

ADDYY has been the subject of several other reports. UBS Group cut Adidas from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 4th. Robert W. Baird cut Adidas from a "strong-buy" rating to a "hold" rating in a report on Monday, September 14th. JPMorgan Chase & Co. began coverage on Adidas in a report on Thursday, July 2nd. They set an "overweight" rating on the stock. Morgan Stanley restated an "overweight" rating on shares of Adidas in a research note on Thursday, September 10th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating on shares of Adidas in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Adidas presently has an average rating of "Moderate Buy" and an average target price of $146.00.

Adidas Stock Up 0.2%

ADDYY opened at $86.04 on Tuesday. The company has a 50 day moving average of $86.04 and a 200 day moving average of $90.34. The company has a market cap of $30.74 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 1.26 and a beta of 1.24. Adidas has a 12 month low of $75.19 and a 12 month high of $118.00. The company has a current ratio of 1.39, a quick ratio of 0.74 and a debt-to-equity ratio of 0.39.

Adidas (OTCMKTS:ADDYY - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.22 earnings per share for the quarter, missing analysts' consensus estimates of $1.38 by ($0.16). The business had revenue of $7.76 billion during the quarter, compared to analysts' expectations of $7.55 billion. Adidas had a net margin of 5.30% and a return on equity of 22.35%. On average, sell-side analysts expect that Adidas will post 5.08 EPS for the current year.

Institutional Trading of Adidas

A hedge fund recently raised its position in Adidas stock. GAMMA Investing LLC boosted its position in Adidas AG (OTCMKTS:ADDYY - Free Report) by 53.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,101 shares of the company's stock after purchasing an additional 732 shares during the quarter. GAMMA Investing LLC's holdings in Adidas were worth $216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Adidas Company Profile

adidas AG is a Germany-based global sporting goods company headquartered in Herzogenaurach, Bavaria. Founded by Adolf “Adi” Dassler in 1949, the company develops, designs and markets athletic footwear, apparel and sports accessories under the adidas brand.

Its products serve a broad range of sports and activities, including football, running, basketball, training, tennis and outdoor pursuits. adidas also offers lifestyle footwear and clothing that combine sports-inspired designs with everyday fashion.

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.