adidas (OTCMKTS:ADDYY) Upgraded to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of adidas (OTCMKTS:ADDYY) from an underweight rating to an overweight rating in a report published 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 report on Monday, February 5th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of Buy.

adidas Stock Performance

Shares of ADDYY stock opened at $108.06 on Monday. The company has a quick ratio of 0.66, a current ratio of 1.22 and a debt-to-equity ratio of 0.49. adidas has a 52 week low of $79.58 and a 52 week high of $115.00. The stock has a market capitalization of $41.41 billion, a PE ratio of -491.18 and a beta of 1.18. The firm has a 50 day moving average of $103.85 and a two-hundred day moving average of $98.76.

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

Institutional Investors Weigh In On adidas

A number of institutional investors and hedge funds have recently bought and sold shares of ADDYY. Capital Square LLC acquired a new position in adidas during the fourth quarter worth approximately $1,405,000. Mar Vista Investment Partners LLC increased its position in adidas by 12.6% during the first quarter. Mar Vista Investment Partners LLC now owns 35,590 shares of the company’s stock worth $4,196,000 after buying an additional 3,993 shares during the period. Rhumbline Advisers acquired a new position in adidas during the second quarter worth approximately $809,000. Comerica Bank acquired a new position in adidas during the second quarter worth approximately $247,000. Finally, PNC Financial Services Group Inc. increased its position in adidas by 111.0% during the first quarter. PNC Financial Services Group Inc. now owns 1,283 shares of the company’s stock worth $151,000 after buying an additional 675 shares during the period.

adidas Company Profile

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.