adidas (OTCMKTS:ADDYY) Price Target Cut to €235.00

adidas (OTCMKTS:ADDYYGet Rating) had its price objective reduced by Morgan Stanley from €255.00 ($268.42) to €235.00 ($247.37) in a report released on Tuesday morning, The Fly reports.

Several other analysts have also commented on ADDYY. Sanford C. Bernstein began coverage on shares of adidas in a research report on Monday, March 14th. They issued an outperform rating on the stock. Credit Suisse Group lowered their price target on shares of adidas from €205.00 ($215.79) to €193.00 ($203.16) and set an underperform rating on the stock in a research report on Monday, May 9th. Baader Bank lowered shares of adidas to a reduce rating and set a €190.00 ($200.00) price target on the stock. in a research report on Wednesday, April 13th. Telsey Advisory Group reissued an outperform rating on shares of adidas in a research report on Wednesday, March 2nd. Finally, Zacks Investment Research raised shares of adidas from a sell rating to a hold rating in a research report on Wednesday, March 16th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price of $256.56.

Shares of ADDYY stock opened at $94.77 on Tuesday. The firm has a market cap of $36.97 billion, a price-to-earnings ratio of 15.38, a P/E/G ratio of 1.02 and a beta of 0.96. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.11 and a current ratio of 1.56. adidas has a 52 week low of $90.25 and a 52 week high of $199.44. The firm’s 50-day simple moving average is $108.86 and its two-hundred day simple moving average is $131.31.

adidas (OTCMKTS:ADDYYGet Rating) last announced its quarterly earnings data on Wednesday, March 9th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.15 by $0.19. The business had revenue of $5.88 billion for the quarter, compared to analyst estimates of $5.83 billion. adidas had a net margin of 9.64% and a return on equity of 15.89%. Analysts forecast that adidas will post 4.88 earnings per share for the current year.

The company also recently disclosed a dividend, which will be paid on Monday, May 23rd. Investors of record on Monday, May 16th will be paid a dividend of $1.2952 per share. The ex-dividend date of this dividend is Friday, May 13th. This represents a yield of 1.4%. adidas’s dividend payout ratio is currently 21.10%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its stake in adidas by 78.7% in the third quarter. PNC Financial Services Group Inc. now owns 520 shares of the company’s stock valued at $82,000 after acquiring an additional 229 shares during the last quarter. Private Capital Group LLC raised its position in adidas by 14.6% during the first quarter. Private Capital Group LLC now owns 713 shares of the company’s stock valued at $84,000 after purchasing an additional 91 shares in the last quarter. Castleview Partners LLC purchased a new stake in adidas during the fourth quarter valued at about $172,000. Captrust Financial Advisors raised its position in adidas by 11.8% during the third quarter. Captrust Financial Advisors now owns 1,423 shares of the company’s stock valued at $225,000 after purchasing an additional 150 shares in the last quarter. Finally, Laffer Tengler Investments raised its position in adidas by 30.5% during the third quarter. Laffer Tengler Investments now owns 1,817 shares of the company’s stock valued at $287,000 after purchasing an additional 425 shares in the last quarter. 0.04% of the stock is owned by institutional investors.

About adidas (Get Rating)

adidas AG, together with its subsidiaries, designs, develops, distributes, and markets athletic and sports lifestyle products worldwide. It offers footwear; apparel; and accessories and gear, such as bags and balls under the adidas brand. It sells its products through approximately 2,200 own-retail stores; mono-branded franchise stores and shop-in-shops; and wholesale and its e-commerce channels.

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