adidas AG (NASDAQ:ADDYY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage presently has a $97.00 target price on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 10.60% from the stock’s current price.
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. “
A number of other equities research analysts have also recently weighed in on the company. Goldman Sachs Group Inc. restated a “buy” rating on shares of adidas AG in a research note 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. Finally, HSBC cut adidas AG from a “buy” rating to a “hold” rating in a research note on Friday, September 2nd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. adidas AG currently has an average rating of “Hold” and a consensus price target of $88.50.
adidas AG (NASDAQ:ADDYY) opened at 87.70 on Monday. adidas AG has a 52-week low of $42.00 and a 52-week high of $88.85. The stock’s 50 day moving average price is $85.28 and its 200-day moving average price is $71.95. The stock has a market capitalization of $35.11 billion and a PE ratio of 34.79.
A number of large investors have recently added to or reduced their stakes in ADDYY. Reliance Trust Co. of Delaware purchased a new position in shares of adidas AG during the second quarter worth $236,000. Sterling Capital Management LLC purchased a new position in shares of adidas AG during the second quarter worth $249,000. World Asset Management Inc raised 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 worth $1,848,000 after buying an additional 1,988 shares in the last quarter. Todd Asset Management LLC purchased a new position in shares of adidas AG during the second quarter worth $2,237,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in shares of adidas AG during the second quarter worth $2,237,000.
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.
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