adidas (OTCMKTS:ADDYY) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research downgraded shares of adidas (OTCMKTS:ADDYY) from a hold rating to a sell rating in a report issued on Tuesday morning, Zacks.com reports.

According to Zacks, “Adidas is a leading brand in the sporting goods market with strong positions in footwear, apparel and hardware. Adidas products offer technological innovations and cutting-edge designs to athletes of all skill levels who aspire to achieve peak performance. The adidas brand is structured in three divisions: Forever Sport, Originals and adidas Equipment. “

A number of other equities analysts also recently commented on the stock. UBS Group reissued a buy rating on shares of adidas in a research note on Thursday, November 11th. Societe Generale reaffirmed a buy rating on shares of adidas in a report on Monday, October 4th. Deutsche Bank Aktiengesellschaft reaffirmed a buy rating on shares of adidas in a report on Thursday, November 11th. JPMorgan Chase & Co. reaffirmed a neutral rating on shares of adidas in a report on Thursday, November 11th. Finally, Credit Suisse Group reaffirmed a neutral rating on shares of adidas in a report on Tuesday, November 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, adidas presently has a consensus rating of Hold and a consensus price target of $251.50.

adidas stock opened at $145.15 on Tuesday. The company has a 50 day moving average price of $148.37 and a 200-day moving average price of $165.19. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.23 and a current ratio of 1.66. adidas has a fifty-two week low of $137.64 and a fifty-two week high of $199.44. The company has a market capitalization of $56.63 billion, a PE ratio of 23.00, a P/E/G ratio of 0.56 and a beta of 0.87.

adidas (OTCMKTS:ADDYY) last posted its quarterly earnings results on Wednesday, November 10th. The company reported $1.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.48 by ($0.10). adidas had a net margin of 9.52% and a return on equity of 20.10%. The company had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.81 billion. On average, analysts forecast that adidas will post 4.05 earnings per share for the current year.

Several institutional investors have recently modified their holdings of ADDYY. Parametric Portfolio Associates LLC raised its position in shares of adidas by 12.9% in the second quarter. Parametric Portfolio Associates LLC now owns 475,790 shares of the company’s stock worth $88,868,000 after acquiring an additional 54,423 shares during the period. Boston Common Asset Management LLC raised its position in shares of adidas by 45.9% during the 2nd quarter. Boston Common Asset Management LLC now owns 30,361 shares of the company’s stock worth $5,651,000 after purchasing an additional 9,547 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of adidas during the 2nd quarter worth about $514,000. OLD National Bancorp IN acquired a new position in shares of adidas during the 3rd quarter worth about $366,000. Finally, Pinnacle Wealth Management Advisory Group LLC acquired a new stake in adidas in the 2nd quarter valued at about $201,000. Institutional investors and hedge funds own 0.03% of the company’s stock.

adidas Company Profile

adidas AG engages in the design, distribution, and marketing of athletic and sporting lifestyle products. It operates through the following segments: Europe, North America, Asia-Pacific, Russia/CIS, Latin America, Emerging Markets, adidas Golf, Runtastic, and Other Businesses. The North America segment includes North America adidas and North America Reebok.

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