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. “
Several other research analysts have also recently issued reports on the company. Goldman Sachs Group Inc. reaffirmed a buy rating on shares of adidas AG in a report on Thursday, July 28th. Morgan Stanley restated a hold rating on shares of adidas AG in a report on Saturday, June 4th. HSBC cut shares of adidas AG from a buy rating to a hold rating in a report on Friday, September 2nd. Finally, Robert W. Baird cut shares of adidas AG to a neutral rating and set a $80.00 price target on the stock. in a report on Friday, September 2nd. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. adidas AG has an average rating of Hold and an average price target of $83.50.
adidas AG (NASDAQ:ADDYY) opened at 85.97 on Tuesday. The stock has a market capitalization of $34.42 billion and a price-to-earnings ratio of 34.30. adidas AG has a 12 month low of $40.19 and a 12 month high of $88.85. The company has a 50 day moving average price of $85.24 and a 200 day moving average price of $71.08.
A number of hedge funds have recently bought and sold shares of the stock. World Asset Management Inc boosted its stake in shares of adidas AG by 8.3% in the second quarter. World Asset Management Inc now owns 25,896 shares of the company’s stock valued at $1,848,000 after buying an additional 1,988 shares in the last quarter. Reliance Trust Co. of Delaware bought a new stake in adidas AG during the second quarter valued at approximately $236,000. Sterling Capital Management LLC bought a new stake in adidas AG during the second quarter valued at approximately $249,000. Parametric Portfolio Associates LLC boosted its stake in adidas AG by 3.8% in the second quarter. Parametric Portfolio Associates LLC now owns 213,107 shares of the company’s stock valued at $15,278,000 after buying an additional 7,897 shares during the period. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in adidas AG during the second quarter valued at approximately $2,237,000.
About adidas AG
adidas AG and its subsidiaries design, develop, produce and market a range of athletic and sports lifestyle products. The Company’s segments include Western Europe; North America; Greater China; Russia/CIS; Latin America; Japan; Middle East, South Korea, Southeast Asia/Pacific (MEAA); TaylorMade-adidas Golf; Reebok-CCM Hockey; Runtastic, and Other centrally managed business.
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