adidas (OTCMKTS:ADDYY – Get Rating) was downgraded by Cowen investment analysts from an “outperforming” rating to a “market performing” rating in a report on Friday, Briefing.com reports.
Other research analysts have also recently published research reports on the stock. Credit Suisse Group cut its price target on adidas shares from €155.00 ($158.16) to €145.00 ($147.96) in a Thursday, July 28 report. Societe Generale upgraded adidas shares from a “buy” rating to a “hold” rating in a Wednesday, July 27 report. Berenberg Bank upgraded adidas shares from a “buy” rating to a “hold” rating in a Tuesday, September 6 report. UBS Group upgraded adidas shares from a “buy” rating to a “neutral” rating in a report on Friday, July 29. Finally, HSBC upgraded adidas shares from a “buy” rating to a “hold” rating in a Tuesday, June 14 report. Three equity research analysts gave the stock a sell rating, eleven gave the company a hold rating and seven gave the company a buy rating. According to data from MarketBeat, adidas currently has a consensus rating of “Hold” and a consensus price target of $229.13.
adidas Stock down 4.3%
Shares of adidas opened at $68.04 on Friday. The company has a debt ratio of 0.38, a quick ratio of 0.76 and a current ratio of 1.34. adidas has a 52-week low of $67.80 and a 52-week high of $173.02. The stock has a market capitalization of $26.54 billion, a price/earnings ratio of 11.75, a P/E/G ratio of 1.24 and a beta of 0.93. The company’s 50-day moving average price is $81.45 and its 200-day moving average price is $94.67.
adidas (OTCMKTS:ADDYY – Get Rating) last reported results on Thursday August 4th. The company reported earnings per share (EPS) of $1.00 for the quarter, beating the consensus estimate of $0.90 by $0.10. adidas had a net margin of 9.02% and a return on equity of 16.49%. The company posted revenue of $5.96 billion for the quarter, versus $5.67 billion expected by analysts. Equity research analysts expect adidas to post EPS of 3.41 for the current year.
Hedge funds weigh on adidas
Several large investors have recently changed their stock holdings. Private Capital Group LLC increased its position in adidas shares by 14.6% in Q1. Private Capital Group LLC now owns 713 shares of the company worth $84,000 after buying 91 additional shares in the last quarter. Equitable Trust Co. increased its position in adidas shares by 6.1% in the second quarter. Equitable Trust Co. now owns 2,428 shares of the company worth $214,000 after buying an additional 140 shares in the last quarter. Sky Investment Group LLC increased its position in adidas shares by 4.1% in Q1. Sky Investment Group LLC now owns 14,370 shares of the company worth $1,679,000 after purchasing an additional 570 shares in the last quarter. PNC Financial Services Group Inc. increased its position in adidas by 111.0% in Q1. PNC Financial Services Group Inc. now owns 1,283 shares of the company worth $151,000 after purchasing an additional 675 shares in the last quarter. Finally, Capital Square LLC increased its position in adidas by 36.2% in the second quarter. Capital Square LLC now owns 5,165 shares of the company worth $455,000 after purchasing an additional 1,374 shares in the last quarter. Hedge funds and other institutional investors own 0.05% of the company’s shares.
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adidas AG, together with its subsidiaries, designs, develops, distributes and markets athletic and sports lifestyle products worldwide. It offers shoes; clothes; and accessories and equipment, such as adidas-branded bags and balls. It sells its products in approximately 2,200 directly operated retail stores; single-brand franchise stores and shop-in-shops; and wholesale and its e-commerce channels.
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