adidas (OTCMKTS:ADDYY) Rating Increased to Outperform at Sanford C. Bernstein

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

A number of other brokerages also recently issued reports on ADDYY. Barclays reiterated an “equal weight” rating on shares of adidas in a report on Monday, September 9th. HSBC lowered adidas from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

adidas Price Performance

Shares of ADDYY stock opened at $120.34 on Monday. The company has a market cap of $42.97 billion, a PE ratio of 92.57 and a beta of 1.18. The stock’s 50 day simple moving average is $120.21 and its two-hundred day simple moving average is $121.89. adidas has a 1 year low of $88.03 and a 1 year high of $134.39.

adidas (OTCMKTS:ADDYY) last released its earnings results on Tuesday, October 29th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.25. adidas had a return on equity of 7.93% and a net margin of 1.91%. The firm had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.01 billion. Equities research analysts expect that adidas will post 2.15 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in adidas stock. GAMMA Investing LLC increased its holdings in shares of adidas AG (OTCMKTS:ADDYY) by 13.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 897 shares of the company’s stock after purchasing an additional 105 shares during the quarter. GAMMA Investing LLC’s holdings in adidas were worth $109,000 at the end of the most recent reporting period.

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.