Adidas (OTCMKTS:ADDYY) Lowered to “Hold” Rating by Robert W. Baird

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

Several other research firms also recently weighed in on ADDYY. UBS Group downgraded shares of Adidas from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 4th. Piper Sandler reissued an “overweight” rating on shares of Adidas in a report on Wednesday, July 15th. Royal Bank Of Canada upgraded Adidas from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, June 10th. JPMorgan Chase & Co. assumed coverage on Adidas in a report on Thursday, July 2nd. They issued an “overweight” rating for the company. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Adidas in a research report on Thursday. Ten research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $146.02.

Adidas Stock Up 0.7%

ADDYY stock opened at $83.02 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.74 and a current ratio of 1.39. The company 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 has a fifty-two week low of $75.19 and a fifty-two week high of $118.00. The stock has a fifty day moving average of $94.02 and a 200-day moving average of $90.33.

Adidas (OTCMKTS:ADDYY) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.16). Adidas had a net margin of 5.30% and a return on equity of 22.35%. The firm had revenue of $7.76 billion during the quarter, compared to the consensus estimate of $7.55 billion. As a group, equities research analysts predict that Adidas will post 5.35 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Adidas stock. GAMMA Investing LLC grew its position in shares of Adidas AG (OTCMKTS:ADDYY) by 53.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,101 shares of the company’s stock after purchasing 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 quarter.

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.