Adidas (OTCMKTS:ADDYY) Stock Rating Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Adidas (OTCMKTS:ADDYY) from a hold rating to a strong sell rating in a research note released on Tuesday,Zacks reports.

ADDYY has been the topic of several other reports. Telsey Advisory Group reiterated an “outperform” rating on shares of Adidas in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Adidas in a report on Tuesday, June 30th. Barclays raised shares of Adidas from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, September 1st. JPMorgan Chase & Co. started coverage on shares of Adidas in a research report on Thursday, July 2nd. They issued an “overweight” rating for the company. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $146.00 price objective on shares of Adidas in a research note on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.00.

Adidas Stock Up 0.2%

Shares of OTCMKTS ADDYY opened at $86.04 on Tuesday. Adidas has a 12-month low of $75.19 and a 12-month high of $118.00. The company has a market cap of $30.74 billion, a P/E ratio of 18.95, a P/E/G ratio of 1.26 and a beta of 1.24. 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 fifty day moving average price of $86.04 and a 200 day moving average price of $90.34.

Adidas (OTCMKTS:ADDYY) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.16). Adidas had a return on equity of 22.35% and a net margin of 5.30%. The company had revenue of $7.76 billion for the quarter, compared to analyst estimates of $7.55 billion. Research analysts anticipate that Adidas will post 5.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Adidas

An institutional investor recently raised its position in Adidas stock. Madison Asset Management LLC grew its stake in Adidas AG (OTCMKTS:ADDYY) by 7.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,125 shares of the company’s stock after purchasing an additional 1,582 shares during the quarter. Madison Asset Management LLC’s holdings in Adidas were worth $1,935,000 as of its most recent filing with the 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.