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 also recently issued reports on the company. Robert W. Baird downgraded adidas AG to a neutral rating and set a $80.00 price objective for the company. in a research note on Friday, September 2nd. HSBC downgraded adidas AG from a buy rating to a hold rating in a research note on Friday, September 2nd. Goldman Sachs Group Inc. reaffirmed a buy rating on shares of adidas AG in a research note on Thursday, July 28th. Finally, Morgan Stanley reaffirmed a hold rating on shares of adidas AG in a research note on Saturday, June 4th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $83.50.
adidas AG (NASDAQ:ADDYY) traded up 0.70% during mid-day trading on Tuesday, reaching $86.64. The company’s stock had a trading volume of 11,204 shares. The firm has a 50-day moving average of $85.05 and a 200 day moving average of $70.86. The firm has a market capitalization of $34.69 billion and a price-to-earnings ratio of 34.57. adidas AG has a 1-year low of $39.97 and a 1-year high of $88.85.
Large investors have recently bought and sold shares of the company. World Asset Management Inc increased its stake in 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 during the period. Reliance Trust Co. of Delaware bought a new position in shares of adidas AG during the second quarter worth approximately $236,000. Sterling Capital Management LLC bought a new position in shares of adidas AG during the second quarter worth approximately $249,000. Parametric Portfolio Associates LLC raised 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 worth $15,278,000 after buying an additional 7,897 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new position in shares of adidas AG during the second quarter worth approximately $2,237,000.
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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