adidas (OTCMKTS:ADDYY) Rating Increased to Overweight at Morgan Stanley

adidas (OTCMKTS:ADDYY) was upgraded by Morgan Stanley from an “underweight” rating to an “overweight” rating in a note issued to investors on Monday, MarketBeat reports.

Separately, Royal Bank of Canada raised shares of adidas from a “sector perform” rating to an “outperform” rating in a research note on Monday, February 5th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy”.

adidas Price Performance

OTCMKTS ADDYY opened at $108.06 on Monday. adidas has a twelve month low of $79.58 and a twelve month high of $115.00. The company has a current ratio of 1.22, a quick ratio of 0.66 and a debt-to-equity ratio of 0.49. The firm’s 50 day moving average price is $104.12 and its two-hundred day moving average price is $98.91.

adidas (OTCMKTS:ADDYY) last posted its quarterly earnings results on Wednesday, March 13th. The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.36). adidas had a negative net margin of 0.33% and a negative return on equity of 2.21%. The company had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.22 billion. As a group, sell-side analysts forecast that adidas will post 1.71 earnings per share for the current year.

Hedge Funds Weigh In On adidas

A number of large investors have recently modified their holdings of the stock. GAMMA Investing LLC acquired a new stake in adidas in the fourth quarter worth $45,000. PNC Financial Services Group Inc. lifted its stake in adidas by 111.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,283 shares of the company’s stock valued at $151,000 after acquiring an additional 675 shares during the last quarter. Mar Vista Investment Partners LLC lifted its stake in adidas by 8.0% in the fourth quarter. Mar Vista Investment Partners LLC now owns 27,044 shares of the company’s stock valued at $2,749,000 after acquiring an additional 2,000 shares during the last quarter. Comerica Bank acquired a new stake in adidas in the second quarter valued at $247,000. Finally, Fisher Asset Management LLC lifted its stake in adidas by 27.5% in the fourth quarter. Fisher Asset Management LLC now owns 12,741 shares of the company’s stock valued at $1,296,000 after acquiring an additional 2,749 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.