adidas (OTCMKTS:ADDYY) Rating Increased to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of adidas (OTCMKTS:ADDYY) from an underweight rating to an overweight rating in a research note released on Monday, Marketbeat.com reports.

Separately, Royal Bank of Canada upgraded shares of adidas from a sector perform rating to an outperform rating in a research note on Monday, February 5th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of Buy.

adidas Stock Up 2.1 %

ADDYY opened at $119.73 on Monday. adidas has a fifty-two week low of $79.58 and a fifty-two week high of $120.75. The company’s 50-day moving average is $105.09 and its 200 day moving average is $99.18. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.22 and a quick ratio of 0.66.

adidas (OTCMKTS:ADDYY) last posted its quarterly earnings data on Wednesday, March 13th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.36). adidas had a negative return on equity of 2.21% and a negative net margin of 0.33%. The company had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.22 billion. As a group, research analysts anticipate that adidas will post 1.71 EPS for the current fiscal year.

adidas Cuts Dividend

The business also recently announced a dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will be given a dividend of $0.2394 per share. The ex-dividend date is Friday, May 17th. adidas’s payout ratio is presently -109.09%.

Institutional Investors Weigh In On adidas

Several hedge funds have recently bought and sold shares of the stock. Capital Square LLC bought a new stake in shares of adidas in the 4th quarter worth approximately $1,405,000. Mar Vista Investment Partners LLC lifted its holdings in shares of adidas by 12.6% in the 1st quarter. Mar Vista Investment Partners LLC now owns 35,590 shares of the company’s stock worth $4,196,000 after acquiring an additional 3,993 shares during the last quarter. Rhumbline Advisers bought a new stake in shares of adidas in the 2nd quarter worth approximately $809,000. Comerica Bank bought a new stake in shares of adidas in the 2nd quarter worth approximately $247,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of adidas by 111.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,283 shares of the company’s stock worth $151,000 after acquiring an additional 675 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.