HSBC Lowers adidas (OTCMKTS:ADDYY) to Hold

adidas (OTCMKTS:ADDYY) was downgraded by equities researchers at HSBC from a “buy” rating to a “hold” rating in a research note issued on Wednesday, Briefing.com reports.

A number of other equities research analysts have also issued reports on the company. Barclays restated an “equal weight” rating on shares of adidas in a research report on Monday, September 9th. Telsey Advisory Group upgraded adidas from a “market perform” rating to an “outperform” rating in a report on Wednesday, July 17th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

adidas Price Performance

OTCMKTS ADDYY traded down $1.49 during trading hours on Wednesday, reaching $118.93. The company’s stock had a trading volume of 31,245 shares, compared to its average volume of 69,049. The firm has a market capitalization of $45.57 billion, a price-to-earnings ratio of 283.17 and a beta of 1.21. adidas has a 1-year low of $84.71 and a 1-year high of $134.39. The company’s 50-day moving average is $124.53 and its two-hundred day moving average is $121.99.

adidas (OTCMKTS:ADDYY) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $6.35 billion. Equities analysts forecast that adidas will post 1.97 EPS for the current fiscal year.

Institutional Trading of adidas

Hedge funds have recently modified their holdings of the stock. Hantz Financial Services Inc. purchased a new position in adidas in the second quarter valued at $4,809,000. Capital Square LLC purchased a new position in adidas in the second quarter valued at $1,616,000. Finally, GAMMA Investing LLC increased its holdings in adidas by 29.4% in the third quarter. GAMMA Investing LLC now owns 792 shares of the company’s stock valued at $105,000 after buying an additional 180 shares during the last 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.