Adidas (OTCMKTS:ADDYY) Stock Rating Upgraded by Benchmark

Adidas (OTCMKTS:ADDYY) was upgraded by research analysts at Benchmark to a “strong-buy” rating in a report issued on Tuesday, Zacks reports.

Other analysts have also issued reports about the stock. 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. Barclays raised shares of Adidas from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, September 1st. Citigroup upgraded shares of Adidas from a “buy” rating to an “overweight” rating in a research note on Tuesday, September 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Adidas in a research report on Tuesday, June 30th. Finally, UBS Group downgraded shares of Adidas from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Adidas presently has an average rating of “Moderate Buy” and an average price target of $146.02.

Adidas Stock Performance

Shares of OTCMKTS:ADDYY opened at $82.03 on Tuesday. The company has a current ratio of 1.39, a quick ratio of 0.74 and a debt-to-equity ratio of 0.39. Adidas has a 12 month low of $75.19 and a 12 month high of $118.00. The company has a market capitalization of $29.31 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 1.19 and a beta of 1.25. The firm’s 50-day moving average is $90.97 and its 200 day moving average is $89.99.

Adidas (OTCMKTS:ADDYY) last released its earnings results 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 net margin of 5.30% and a return on equity of 22.35%. The business had revenue of $7.76 billion for the quarter, compared to the consensus estimate of $7.55 billion. Research analysts predict that Adidas will post 5.3 EPS for the current year.

Hedge Funds Weigh In On Adidas

An institutional investor recently raised its stake in Adidas stock. GAMMA Investing LLC lifted its position in Adidas AG (OTCMKTS:ADDYY) by 53.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,101 shares of the company’s stock after acquiring an additional 732 shares during the quarter. GAMMA Investing LLC’s holdings in Adidas were worth $216,000 as of its most recent SEC filing.

Adidas Company Profile

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.