adidas (OTCMKTS:ADDYY) Downgraded by HSBC to Hold

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

A number of other equities analysts have also recently commented on ADDYY. Telsey Advisory Group raised adidas from a “market perform” rating to an “outperform” rating in a research note on Wednesday, July 17th. Barclays reaffirmed an “equal weight” rating on shares of adidas in a research note on Monday, September 9th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

adidas Stock Performance

Shares of ADDYY opened at $116.01 on Wednesday. adidas has a fifty-two week low of $84.71 and a fifty-two week high of $134.39. The firm has a 50 day moving average price of $124.46 and a 200-day moving average price of $121.95. The firm has a market cap of $44.45 billion, a price-to-earnings ratio of 276.21 and a beta of 1.21.

adidas (OTCMKTS:ADDYY) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.11). adidas had a return on equity of 3.75% and a net margin of 1.10%. The business had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.35 billion. As a group, equities research analysts predict that adidas will post 1.97 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in shares of adidas by 23.9% in the 2nd quarter. GAMMA Investing LLC now owns 612 shares of the company’s stock worth $73,000 after purchasing an additional 118 shares during the period. Hantz Financial Services Inc. bought a new position in adidas in the second quarter worth about $4,809,000. Finally, Capital Square LLC bought a new position in adidas in the second quarter worth about $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.