Zacks Investment Research downgraded shares of adidas (OTCMKTS:ADDYY) from a buy rating to a hold rating in a research report sent to investors on Thursday.
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. “
A number of other analysts also recently issued reports on ADDYY. Bank of America raised shares of adidas from a neutral rating to a buy rating in a report on Thursday, March 8th. Citigroup raised shares of adidas from a neutral rating to a buy rating in a report on Thursday, March 15th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $190.75.
adidas (OTCMKTS:ADDYY) last announced its earnings results on Wednesday, March 14th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.07 by $0.14. The business had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $6.08 billion. adidas had a net margin of 5.07% and a return on equity of 22.20%. analysts forecast that adidas will post 4.78 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the company. Fairfield Bush & CO. acquired a new position in shares of adidas in the 4th quarter valued at approximately $288,000. Pacer Advisors Inc. raised its position in shares of adidas by 37.4% in the 3rd quarter. Pacer Advisors Inc. now owns 4,751 shares of the company’s stock valued at $538,000 after buying an additional 1,294 shares in the last quarter. NorthCoast Asset Management LLC raised its position in shares of adidas by 24.1% in the 4th quarter. NorthCoast Asset Management LLC now owns 16,922 shares of the company’s stock valued at $1,698,000 after buying an additional 3,285 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in shares of adidas in the 4th quarter valued at approximately $2,446,000. Finally, Parametric Portfolio Associates LLC raised its position in shares of adidas by 6.0% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 310,794 shares of the company’s stock valued at $35,182,000 after buying an additional 17,631 shares in the last quarter. Institutional investors own 0.14% of the company’s stock.
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; TaylorMade-adidas Golf; Runtastic and Other centrally managed business.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for adidas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for adidas and related companies with MarketBeat.com's FREE daily email newsletter.