ADIDAS AG/S (ADDYY) Raised to “Hold” at Zacks Investment Research
ADIDAS AG/S (OTCMKTS:ADDYY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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. “
Other equities analysts have also issued research reports about the company. ValuEngine raised ADIDAS AG/S from a “hold” rating to a “buy” rating in a research report on Tuesday, August 28th. Wells Fargo & Co lowered ADIDAS AG/S from an “outperform” rating to a “hold” rating in a research report on Tuesday, July 17th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $131.00.
Institutional investors and hedge funds have recently bought and sold shares of the company. Mitchell Capital Management Co. raised its position in shares of ADIDAS AG/S by 36.7% in the 2nd quarter. Mitchell Capital Management Co. now owns 4,747 shares of the company’s stock worth $517,000 after purchasing an additional 1,274 shares during the last quarter. Sit Investment Associates Inc. raised its position in shares of ADIDAS AG/S by 41,462.5% in the 2nd quarter. Sit Investment Associates Inc. now owns 9,975 shares of the company’s stock worth $1,087,000 after purchasing an additional 9,951 shares during the last quarter. Finally, Park National Corp OH purchased a new position in shares of ADIDAS AG/S in the 3rd quarter worth about $209,000. 0.12% of the stock is owned by hedge funds and other institutional investors.
About ADIDAS AG/S
adidas AG, together with its subsidiaries, designs, develops, produces, and markets athletic and sports lifestyle products worldwide. It offers footwear; apparel; and hardware, such as bags and balls under the adidas, Reebok, and adidas Golf brands. The company is also involved in Y-3 label business activities; and the operation of Runtastic, a digital health and fitness space.
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