HSBC Lowers adidas (OTCMKTS:ADDYY) to Hold

adidas (OTCMKTS:ADDYY) was downgraded by equities researchers at HSBC from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Briefing.com reports.

A number of other research firms have also issued reports on ADDYY. Telsey Advisory Group raised adidas from a “market perform” rating to an “outperform” rating in a report on Wednesday, July 17th. Barclays reissued an “equal weight” rating on shares of adidas in a research note on Monday, September 9th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

adidas Stock Performance

Shares of ADDYY stock traded down $1.49 during mid-day trading on Wednesday, hitting $118.93. 31,245 shares of the stock were exchanged, compared to its average volume of 69,049. The stock’s fifty day simple moving average is $124.53 and its two-hundred day simple moving average is $121.99. The stock has a market capitalization of $45.57 billion, a price-to-earnings ratio of 283.17 and a beta of 1.21. adidas has a 12-month low of $84.71 and a 12-month high of $134.39.

adidas (OTCMKTS:ADDYY) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.11). The firm had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.35 billion. adidas had a return on equity of 3.75% and a net margin of 1.10%. On average, research analysts expect that adidas will post 1.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ADDYY. Hantz Financial Services Inc. acquired a new stake in shares of adidas during the 2nd quarter worth $4,809,000. Capital Square LLC acquired a new stake in shares of adidas during the 2nd quarter worth $1,616,000. Finally, GAMMA Investing LLC increased its holdings in shares of adidas by 29.4% during the 3rd quarter. GAMMA Investing LLC now owns 792 shares of the company’s stock worth $105,000 after buying an additional 180 shares during the last quarter.

About adidas

adidas AG, together with its subsidiaries, designs, develops, produces, and markets athletic and sports lifestyle products in Europe, the Middle East, Africa, North America, Greater China, the Asia-Pacific, and Latin America. It offers footwear, apparel, and accessories and gear, such as bags and balls under the adidas brand; golf footwear and apparel under the adidas Golf brand; and outdoor footwear under the Five Ten brand.