adidas AG (ADDYY) Stock Rating Lowered by Zacks Investment Research
adidas AG (NASDAQ:ADDYY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
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. “
ADDYY has been the subject of a number of other reports. HSBC cut shares of adidas AG from a “buy” rating to a “hold” rating in a research note on Friday, September 2nd. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of adidas AG in a research note on Thursday, July 28th. Robert W. Baird cut shares of adidas AG to a “neutral” rating and set a $80.00 target price for the company. in a research note on Friday, September 2nd. Finally, Morgan Stanley reiterated a “hold” rating on shares of adidas AG in a research note on Saturday, June 4th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $83.50.
Shares of adidas AG (NASDAQ:ADDYY) opened at 87.82 on Tuesday. The stock has a 50 day moving average of $85.21 and a 200-day moving average of $70.98. adidas AG has a 52 week low of $39.97 and a 52 week high of $88.85. The stock has a market capitalization of $35.16 billion and a PE ratio of 35.04.
A number of hedge funds have recently made changes to their positions in the stock. Reliance Trust Co. of Delaware purchased a new position in adidas AG during the second quarter valued at about $236,000. Sterling Capital Management LLC purchased a new position in adidas AG during the second quarter valued at about $249,000. World Asset Management Inc boosted its position in 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. Todd Asset Management LLC purchased a new position in adidas AG during the second quarter valued at about $2,237,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in adidas AG during the second quarter valued at about $2,237,000.
adidas AG Company Profile
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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