adidas (OTCMKTS:ADDYY) Upgraded to “Overweight” by Morgan Stanley

Morgan Stanley upgraded shares of adidas (OTCMKTS:ADDYY) from an underweight rating to an overweight rating in a research report released on Monday, MarketBeat Ratings reports.

Separately, Royal Bank of Canada raised shares of adidas from a sector perform rating to an outperform rating in a report on Monday, February 5th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, adidas has an average rating of Buy.

adidas Stock Performance

adidas stock opened at $117.23 on Monday. The company has a fifty day moving average price of $104.57 and a two-hundred day moving average price of $99.03. The company has a quick ratio of 0.66, a current ratio of 1.22 and a debt-to-equity ratio of 0.49. adidas has a 12 month low of $79.58 and a 12 month high of $118.07.

adidas (OTCMKTS:ADDYY) last released its quarterly earnings data on Wednesday, March 13th. The company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.36). The business had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.22 billion. adidas had a negative return on equity of 2.21% and a negative net margin of 0.33%. On average, equities analysts anticipate that adidas will post 1.71 earnings per share for the current fiscal year.

adidas Cuts Dividend

The company also recently declared a dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th will be issued a dividend of $0.2394 per share. The ex-dividend date of this dividend is Friday, May 17th. adidas’s dividend payout ratio (DPR) is -109.09%.

Hedge Funds Weigh In On adidas

Several hedge funds and other institutional investors have recently modified their holdings of ADDYY. GAMMA Investing LLC acquired a new stake in adidas in the fourth quarter worth about $45,000. PNC Financial Services Group Inc. lifted its holdings in adidas by 111.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,283 shares of the company’s stock worth $151,000 after purchasing an additional 675 shares during the period. Comerica Bank acquired a new stake in adidas in the second quarter worth about $247,000. Rhumbline Advisers acquired a new stake in adidas in the second quarter worth about $809,000. Finally, Fisher Asset Management LLC lifted its holdings in adidas by 27.5% in the fourth quarter. Fisher Asset Management LLC now owns 12,741 shares of the company’s stock worth $1,296,000 after purchasing an additional 2,749 shares during the period.

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.