adidas (OTCMKTS:ADDYY) Stock Rating Lowered by HSBC

adidas (OTCMKTS:ADDYY) was downgraded by stock analysts at HSBC from a “buy” rating to a “hold” rating in a report released on Wednesday, Marketbeat Ratings reports.

ADDYY has been the subject of a number of other research reports. Telsey Advisory Group raised adidas from a “market perform” rating to an “outperform” rating in a research note on Wednesday, July 17th. Barclays reissued an “equal weight” rating on shares of adidas in a research note on Monday, September 9th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy”.

adidas Price Performance

OTCMKTS ADDYY opened at $116.88 on Wednesday. The business has a 50 day simple moving average of $124.46 and a 200 day simple moving average of $121.95. adidas has a one year low of $84.71 and a one year high of $134.39. The stock has a market capitalization of $44.79 billion, a P/E ratio of 278.29 and a beta of 1.21.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in shares of adidas by 29.4% during 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. Capital Square LLC purchased a new position in shares of adidas during the second quarter valued at approximately $1,616,000. Finally, Hantz Financial Services Inc. purchased a new position in shares of adidas during the second quarter valued at approximately $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.