adidas (OTCMKTS:ADDYY) Downgraded to Hold at HSBC

HSBC cut shares of adidas (OTCMKTS:ADDYY) from a buy rating to a hold rating in a report published on Wednesday morning, MarketBeat reports.

Several other brokerages have also recently weighed in on ADDYY. Barclays reiterated an “equal weight” rating on shares of adidas in a research note on Monday, September 9th. Telsey Advisory Group raised adidas from a “market perform” rating to an “outperform” rating in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

adidas Stock Performance

Shares of ADDYY opened at $116.89 on Wednesday. adidas has a twelve month low of $84.71 and a twelve month high of $134.39. The firm’s 50 day moving average price is $124.33 and its two-hundred day moving average price is $121.95. The firm has a market cap of $44.79 billion, a P/E ratio of 278.31 and a beta of 1.21.

adidas (OTCMKTS:ADDYY) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.11). The company had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.35 billion. adidas had a return on equity of 3.75% and a net margin of 1.10%. On average, sell-side analysts anticipate that adidas will post 1.97 earnings per share for the current fiscal year.

Institutional Trading of adidas

Several institutional investors have recently made changes to their positions in ADDYY. GAMMA Investing LLC raised its holdings in adidas by 23.9% during the 2nd quarter. GAMMA Investing LLC now owns 612 shares of the company’s stock valued at $73,000 after acquiring an additional 118 shares during the period. Capital Square LLC bought a new stake in adidas during the second quarter valued at approximately $1,616,000. Finally, Hantz Financial Services Inc. purchased a new position in adidas in the second quarter worth $4,809,000.

About adidas

adidas AG, together with its subsidiaries, designs, develops, produces, and markets athletic and sports lifestyle products in Europe, the Middle East, Africa, North America, Greater China, the Asia-Pacific, and Latin America. It offers footwear, apparel, and accessories and gear, such as bags and balls under the adidas brand; golf footwear and apparel under the adidas Golf brand; and outdoor footwear under the Five Ten brand.