adidas (OTCMKTS:ADDYY) Rating Lowered to Hold at HSBC

HSBC lowered shares of adidas (OTCMKTS:ADDYY) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, Marketbeat reports.

Other analysts also recently issued reports about the stock. Barclays reaffirmed an “equal weight” rating on shares of adidas in a research report on Monday, September 9th. Telsey Advisory Group upgraded shares of adidas from a “market perform” rating to an “outperform” rating in a report on Wednesday, July 17th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, adidas presently has an average rating of “Moderate Buy”.

adidas Price Performance

Shares of ADDYY opened at $116.89 on Wednesday. adidas has a one year low of $84.71 and a one year high of $134.39. The company has a 50-day simple moving average of $124.39 and a two-hundred day simple moving average of $121.91. The firm has a market capitalization of $44.79 billion, a PE ratio of 278.31 and a beta of 1.21.

adidas (OTCMKTS:ADDYY) last released its earnings results on Wednesday, July 31st. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.11). The firm had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.35 billion. adidas had a net margin of 1.10% and a return on equity of 3.75%. Analysts expect that adidas will post 1.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ADDYY. GAMMA Investing LLC raised its holdings in shares of adidas by 23.9% during the second quarter. GAMMA Investing LLC now owns 612 shares of the company’s stock valued at $73,000 after purchasing an additional 118 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in adidas during the 2nd quarter valued at $4,809,000. Finally, Capital Square LLC purchased a new stake in adidas during the 2nd quarter valued at $1,616,000.

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.