adidas (OTCMKTS:ADDYY) Upgraded by Sanford C. Bernstein to “Outperform” Rating

Sanford C. Bernstein upgraded shares of adidas (OTCMKTS:ADDYY) from a market perform rating to an outperform rating in a research note issued to investors on Monday, MarketBeat reports.

Several other brokerages have also recently issued reports on ADDYY. Barclays restated an “equal weight” rating on shares of adidas in a report on Monday, September 9th. HSBC downgraded shares of adidas from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, adidas currently has an average rating of “Moderate Buy”.

adidas Trading Down 0.6 %

Shares of OTCMKTS ADDYY opened at $120.34 on Monday. The stock has a market cap of $42.97 billion, a P/E ratio of 92.57 and a beta of 1.18. The business’s fifty day simple moving average is $120.21 and its 200-day simple moving average is $121.89. adidas has a 12-month low of $88.03 and a 12-month high of $134.39.

adidas (OTCMKTS:ADDYY) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.09 by $0.25. The company had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.01 billion. adidas had a net margin of 1.91% and a return on equity of 7.93%. On average, equities analysts forecast that adidas will post 2.15 EPS for the current fiscal year.

Hedge Funds Weigh In On adidas

A hedge fund recently raised its stake in adidas stock. GAMMA Investing LLC grew its position in adidas AG (OTCMKTS:ADDYY) by 29.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 792 shares of the company’s stock after buying an additional 180 shares during the quarter. GAMMA Investing LLC’s holdings in adidas were worth $105,000 at the end of the most recent quarter.

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.