adidas (OTCMKTS:ADDYY) Cut to Reduce at Baader Bank

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adidas (OTCMKTS:ADDYY – Get Rating) was downgraded by equities research analysts at Baader Bank to a “reduce” rating in a research report issued on Wednesday, The Fly reports. They currently have a €190.00 ($206.52) price target on the stock.

Several other equities research analysts have also issued reports on ADDYY. Deutsche Bank Aktiengesellschaft lowered their price target on shares of adidas from €340.00 ($369.57) to €315.00 ($342.39) in a research note on Friday, March 11th. Royal Bank of Canada upgraded shares of adidas from a “sector performer” rating to an “outperform” rating in a research note on Monday, January 10th. Morgan Stanley lowered their price target on shares of adidas from €280.00 ($304.35) to €255.00 ($277.17) and set an “equal weight” rating on the stock in a research note on Tuesday. Zacks Investment Research upgraded shares of adidas from a “sell” rating to a “hold” rating in a research note on Wednesday, March 16th. Finally, Sanford C. Bernsteins assumed coverage on shares of adida in a research note on Monday, March 14th. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $268.50.

ADDYY opened at $108.19 on Wednesday. The stock has a market capitalization of $42.21 billion, a P/E ratio of 16.77, a P/E/G ratio of 1.13 and a beta of 0.92. adidas has a 12 month low of $93.86 and a 12 month high of $199.44. The firm’s fifty day simple moving average is $118.81 and its 200 day simple moving average is $139.33. The company has a current ratio of 1.56, a quick ratio of 1.11 and a debt-to-equity ratio of 0.31.

A number of institutional investors and hedge funds have recently made changes to their positions in ADDYY. Mitchell Capital Management Co. Its stake grew in adidas by 1.5% in the 3rd quarter. Mitchell Capital Management Co. Now owns 9,342 shares of the company’s stock shares valued at $1,477,000 after buying an additional 137 during the last quarter. PNC Financial Services Group Inc. Its stake grew in adidas by 78.7% in the 3rd quarter. PNC Financial Services Group Inc. Now owns 520 shares of the company’s stock valued at $82,000 after buying an additional 229 shares during the last quarter. Boston Common Asset Management LLC grew its stake in adidas by 11.1% in the 3rd quarter. Boston Common Asset Management LLC now owns 33,746 shares of the company’s stock valued at $5,315,000 after buying an additional 3,385 shares during the last quarter. Laffer Tengler Investments grew its stake in adidas by 30.5% in the 3rd quarter. Laffer Tengler Investments now owns 1,817 shares of the company’s stock valued at $287,000 after buying an additional 425 shares during the last quarter. Finally, Captrust Financial Advisors grew its stake in adidas by 11.8% in the 3rd quarter. Captrust Financial Advisors now owns 1,423 shares of the company’s stock valued at $225,000 after buying an additional 150 during the last quarter. Institutional investors and hedge funds own 0.03% of the company’s stock.

About adidas (Get Rating)

adidas AG, together with its subsidiaries, designs, develops, distributes, and markets athletic and sports lifestyle products worldwide. It offers footwear; apparel; and accessories and gear, such as bags and balls under the adidas brand. It sells its products through approximately 2,200 own-retail stores; mono-branded franchise stores and shop-in-shops; and wholesale and its e-commerce channels.

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