Todays Report: The adidas AG (ADDYY) Coverage Initiated by Analysts at Piper Jaffray Cos.

The adidas AG (ADDYY) Coverage Initiated by Analysts at Piper Jaffray Cos.

Piper Jaffray Cos. began coverage on shares of adidas AG (NASDAQ:ADDYY) in a research note published on Thursday morning. The brokerage issued an overweight rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Goldman Sachs Group Inc. reaffirmed a buy rating on shares of adidas AG in a research report on Thursday, July 28th. Robert W. Baird cut adidas AG to a neutral rating and set a $80.00 price target for the company. in a research note on Friday, September 2nd. Zacks Investment Research upgraded adidas AG from a hold rating to a buy rating and set a $97.00 price target for the company in a research note on Monday, October 3rd. Barclays PLC reiterated a hold rating on shares of adidas AG in a research note on Tuesday, October 4th. Finally, HSBC cut adidas AG from a buy rating to a hold rating in a research note on Friday, September 2nd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $88.50.

adidas AG (NASDAQ:ADDYY) traded up 1.42% on Thursday, hitting $86.28. The stock had a trading volume of 21,161 shares. The stock has a market cap of $34.55 billion and a P/E ratio of 34.46. adidas AG has a 12 month low of $43.28 and a 12 month high of $88.85. The company’s 50 day moving average is $85.04 and its 200-day moving average is $73.10.

Several hedge funds and other institutional investors have recently made changes to their positions in ADDYY. World Asset Management Inc boosted its position in shares of 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 during the last quarter. Todd Asset Management LLC purchased a new position in shares of adidas AG during the second quarter valued at about $2,237,000. Sterling Capital Management LLC purchased a new position in shares of adidas AG during the second quarter valued at about $249,000. Teachers Retirement System of The State of Kentucky purchased a new position in shares of adidas AG during the second quarter valued at about $2,237,000. Finally, Parametric Portfolio Associates LLC boosted its position in shares of adidas AG by 3.8% in the second quarter. Parametric Portfolio Associates LLC now owns 213,107 shares of the company’s stock valued at $15,278,000 after buying an additional 7,897 shares during the last quarter.

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