Zacks Investment Research upgraded shares of adidas AG (NASDAQ:ADDYY) from a hold rating to a buy rating in a report published on Monday. They currently have $97.00 price objective on the stock.
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. “
ADDYY has been the topic of a number of other reports. Robert W. Baird downgraded shares of adidas AG to a neutral rating and set a $80.00 price target on the stock. in a report on Friday, September 2nd. HSBC cut adidas AG from a buy rating to a hold rating in a research note on Friday, September 2nd. Finally, Goldman Sachs Group Inc. restated a buy rating on shares of adidas AG in a research note on Thursday, July 28th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $88.50.
Shares of adidas AG (NASDAQ:ADDYY) opened at 86.115 on Monday. The company has a market capitalization of $34.48 billion and a P/E ratio of 34.159. adidas AG has a 1-year low of $42.66 and a 1-year high of $88.85. The company’s 50 day moving average is $85.20 and its 200-day moving average is $72.16.
Large investors have recently made changes to their positions in the stock. World Asset Management Inc boosted its stake 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 worth $1,848,000 after buying an additional 1,988 shares in the last quarter. Todd Asset Management LLC bought a new stake in shares of adidas AG during the second quarter valued at $2,237,000. Sterling Capital Management LLC bought a new stake in shares of adidas AG during the second quarter valued at $249,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of adidas AG during the second quarter valued at $2,237,000. Finally, Parametric Portfolio Associates LLC boosted its stake 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 in the last quarter.
adidas AG Company Profile
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.