Zacks Investment Research cut shares of adidas AG (NASDAQ:ADDYY) from a buy rating to a hold rating in a report issued on Tuesday morning.
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. “
Several other equities research analysts have also issued reports on the company. Morgan Stanley reaffirmed an equal weight rating on shares of adidas AG in a research note on Tuesday, October 18th. Piper Jaffray Cos. started coverage on adidas AG in a research note on Thursday, October 13th. They issued an overweight rating for the company. Barclays PLC reissued a hold rating on shares of adidas AG in a research note on Tuesday, October 4th. Robert W. Baird lowered 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, HSBC lowered adidas AG from a buy rating to a hold rating in a research note on Friday, September 2nd. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $88.50.
adidas AG (NASDAQ:ADDYY) opened at 81.994 on Tuesday. The firm has a 50-day moving average price of $0.00 and a 200 day moving average price of $0.00. adidas AG has a one year low of $44.15 and a one year high of $88.85.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC increased its position in adidas AG by 3.8% in the second quarter. Parametric Portfolio Associates LLC now owns 213,107 shares of the company’s stock worth $15,278,000 after buying an additional 7,897 shares during the period. Todd Asset Management LLC purchased a new position in adidas AG during the second quarter worth $2,237,000. Teachers Retirement System of The State of Kentucky purchased a new position in adidas AG during the second quarter worth $2,237,000. World Asset Management Inc increased its position in adidas AG by 8.1% in the third quarter. World Asset Management Inc now owns 27,985 shares of the company’s stock worth $2,429,000 after buying an additional 2,089 shares during the period. Finally, Sterling Capital Management LLC purchased a new position in adidas AG during the second quarter worth $249,000.
About adidas AG
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.