Adidas (OTCMKTS:ADDYY) Upgraded to "Strong-Buy" at Benchmark

Key Points

• Benchmark upgraded Adidas to “strong buy,” while analysts overall maintain a “Moderate Buy” consensus with an average price target of $146.02.
• Adidas shares opened at $82.03, below their 50-day and 200-day moving averages, and remain well below the 52-week high of $118.00.
• The company’s latest quarterly results were mixed: EPS of $1.22 missed estimates of $1.38, but revenue of $7.76 billion exceeded expectations of $7.55 billion.

Adidas (OTCMKTS:ADDYY - Get Free Report) was upgraded by Benchmark to a "strong-buy" rating in a research report issued to clients and investors on Tuesday, Zacks reports.

A number of other research firms also recently commented on ADDYY. UBS Group downgraded shares of Adidas from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 4th. Barclays upgraded Adidas from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, September 1st. Royal Bank Of Canada raised shares of Adidas from a "sector perform" rating to an "outperform" rating in a report on Wednesday, June 10th. Morgan Stanley restated an "overweight" rating on shares of Adidas in a research note on Thursday, September 10th. Finally, JPMorgan Chase & Co. initiated coverage on Adidas in a research report on Thursday, July 2nd. They set an "overweight" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Adidas presently has a consensus rating of "Moderate Buy" and an average price target of $146.02.

Adidas Price Performance

Shares of OTCMKTS:ADDYY opened at $82.03 on Tuesday. Adidas has a 1-year low of $75.19 and a 1-year high of $118.00. The business has a fifty day moving average price of $90.97 and a 200-day moving average price of $89.99. The company has a market capitalization of $29.31 billion, a PE ratio of 18.07, a PEG ratio of 1.19 and a beta of 1.25. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.39 and a quick ratio of 0.74.

Adidas (OTCMKTS:ADDYY - Get Free Report) last issued its 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). Adidas had a return on equity of 22.35% and a net margin of 5.30%.The firm had revenue of $7.76 billion during the quarter, compared to the consensus estimate of $7.55 billion. As a group, equities analysts expect that Adidas will post 5.3 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 position in Adidas AG (OTCMKTS:ADDYY - Free Report) by 53.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,101 shares of the company's stock after buying 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 reporting period.

Adidas Company Profile

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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