Adidas (OTCMKTS:ADDYY) Stock Rating Lowered by Robert W. Baird

Key Points

• Robert W. Baird downgraded Adidas from “strong buy” to “hold,” although analysts overall maintain a “Moderate Buy” consensus with a $146.02 price target.
• Adidas shares opened at $83.02, below their 50-day and 200-day moving averages. The company’s latest quarterly EPS of $1.22 missed estimates, while revenue of $7.76 billion exceeded forecasts.
• Institutional investor GAMMA Investing increased its Adidas stake by 53.5% during the second quarter, bringing its holdings to approximately $216,000.

Adidas (OTCMKTS:ADDYY - Get Free Report) was downgraded by stock analysts at Robert W. Baird from a "strong-buy" rating to a "hold" rating in a research note issued on Monday, Zacks reports.

ADDYY has been the topic of several other reports. JPMorgan Chase & Co. started coverage on Adidas in a research note on Thursday, July 2nd. They set an "overweight" rating on the stock. UBS Group lowered shares of Adidas from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 4th. Telsey Advisory Group reaffirmed an "outperform" rating on shares of Adidas in a research report on Friday, July 31st. Piper Sandler reissued an "overweight" rating on shares of Adidas in a research report on Wednesday, July 15th. Finally, Morgan Stanley restated an "overweight" rating on shares of Adidas in a research note on Thursday. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $146.02.

Adidas Trading Up 0.7%

OTCMKTS:ADDYY opened at $83.02 on Monday. The firm has a fifty day simple moving average of $94.02 and a two-hundred day simple moving average of $90.33. 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. The stock has a market capitalization of $29.67 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 1.12 and a beta of 1.25.

Adidas (OTCMKTS:ADDYY - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.16). The firm had revenue of $7.76 billion during the quarter, compared to the consensus estimate of $7.55 billion. Adidas had a return on equity of 22.35% and a net margin of 5.30%. Analysts expect that Adidas will post 5.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Adidas stock. GAMMA Investing LLC grew its stake in shares of Adidas AG (OTCMKTS:ADDYY - Free Report) by 53.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,101 shares of the company's stock after acquiring an additional 732 shares during the period. GAMMA Investing LLC's holdings in Adidas were worth $216,000 at the end of the most recent reporting period.

About Adidas

Adidas AG is a global sporting goods company headquartered in Herzogenaurach, Germany. The company designs, manufactures and markets athletic and lifestyle footwear, apparel and accessories under the adidas brand, serving consumers, athletes, teams and sports organizations worldwide.

Its products cover sports including football, running, basketball, training and outdoor activities, as well as casual and streetwear categories. Adidas distributes its products through wholesale partners, company-operated stores and digital commerce channels across markets in Europe, North America, Asia-Pacific, Latin America and other regions.

The company was founded by Adolf “Adi” Dassler in 1949, following his earlier work developing sports shoes.

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