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

Robert W. Baird cut shares of Adidas (OTCMKTS:ADDYY) from a strong-buy rating to a hold rating in a report published on Monday,Zacks reports.

A number of other research analysts also recently commented on the stock. UBS Group downgraded shares of Adidas from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 4th. Piper Sandler reiterated an “overweight” rating on shares of Adidas in a research report on Wednesday, July 15th. Barclays raised shares of Adidas from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, September 1st. JPMorgan Chase & Co. started coverage on shares of Adidas in a report on Thursday, July 2nd. They set an “overweight” rating on the stock. Finally, Royal Bank Of Canada raised shares of Adidas from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, June 10th. Ten investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.02.

Adidas Stock Up 0.7%

Shares of Adidas stock opened at $83.02 on Monday. Adidas has a 1 year low of $75.19 and a 1 year high of $118.00. The company has a market cap of $29.67 billion, a P/E ratio of 18.29, a P/E/G ratio of 1.12 and a beta of 1.25. 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 50-day moving average price of $94.02 and a 200 day moving average price of $90.33.

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

Hedge Funds Weigh In On Adidas

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

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.