The adidas AG (ADDYY) Lowered by The Zacks Investment Research to “Hold”

The adidas AG (ADDYY) Lowered by The Zacks Investment Research to “Hold”

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.

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