Adidas (OTCMKTS:ADDYY) Stock Rating Upgraded by Barclays

Key Points

• Barclays upgraded Adidas from “equal weight” to “overweight,” adding to a generally positive analyst outlook. The stock has a consensus “Moderate Buy” rating and an average price target of $146.02.
• Adidas shares traded at $85.96 after falling $1.72, with the stock remaining below its 52-week high of $118.00. Its market capitalization was approximately $30.72 billion.
• The company’s latest quarterly results were mixed: earnings per share of $1.22 missed estimates of $1.38, while revenue of $7.76 billion exceeded the $7.55 billion consensus forecast.

Adidas (OTCMKTS:ADDYY - Get Free Report) was upgraded by analysts at Barclays from an "equal weight" rating to an "overweight" rating in a research note issued to investors on Tuesday, Briefing.com reports.

Other analysts have also recently issued research reports about the stock. Zacks Research upgraded shares of Adidas from a "strong sell" rating to a "hold" rating in a report on Monday, May 4th. JPMorgan Chase & Co. assumed coverage on shares of Adidas in a research note on Thursday, July 2nd. They set an "overweight" rating on the stock. Royal Bank Of Canada raised shares of Adidas from a "sector perform" rating to an "outperform" rating in a research note on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Adidas in a report on Tuesday, June 30th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of Adidas in a research report on Wednesday, July 15th. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $146.02.

Adidas Price Performance

ADDYY traded down $1.72 during midday trading on Tuesday, hitting $85.96. The stock had a trading volume of 19,790 shares, compared to its average volume of 98,358. Adidas has a 1 year low of $75.19 and a 1 year high of $118.00. The company has a market cap of $30.72 billion, a P/E ratio of 18.93, a price-to-earnings-growth ratio of 1.22 and a beta of 1.26. The business has a fifty day moving average of $97.56 and a 200 day moving average of $90.86. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.74 and a current ratio of 1.39.

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

Institutional Inflows and Outflows

A hedge fund recently raised its position in Adidas stock. GAMMA Investing LLC increased its stake in shares of Adidas AG (OTCMKTS:ADDYY - Free Report) by 53.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,101 shares of the company's stock after acquiring an additional 732 shares during the quarter. GAMMA Investing LLC's holdings in Adidas were worth $216,000 at the end of the most recent quarter.

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.

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