Adidas (OTCMKTS:ADDYY) Sees Large Volume Increase – Here’s Why

Adidas AG (OTCMKTS:ADDYY) shares saw unusually-high trading volume on Thursday . Approximately 409,248 shares changed hands during mid-day trading, an increase of 178% from the previous session’s volume of 147,238 shares.The stock last traded at $89.1340 and had previously closed at $90.43.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Bank of America reiterated an “underperform” rating on shares of Adidas in a report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Adidas in a research note on Wednesday, December 10th. BTIG Research initiated coverage on shares of Adidas in a research report on Tuesday, October 14th. They set a “neutral” rating for the company. Santander initiated coverage on shares of Adidas in a report on Thursday, January 15th. They issued an “outperform” rating for the company. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $146.02 price target on shares of Adidas in a research report on Tuesday, January 6th. Three equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Adidas presently has a consensus rating of “Moderate Buy” and an average target price of $146.02.

Adidas Price Performance

The company has a debt-to-equity ratio of 0.31, a current ratio of 1.31 and a quick ratio of 0.71. The company has a 50-day simple moving average of $94.56 and a 200-day simple moving average of $101.69. The stock has a market cap of $31.80 billion, a PE ratio of 23.31, a PEG ratio of 0.40 and a beta of 1.20.

Adidas (OTCMKTS:ADDYY) last issued its earnings results on Wednesday, October 29th. The company reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.07). The company had revenue of $7.73 billion for the quarter, compared to analyst estimates of $6.22 billion. Adidas had a return on equity of 20.72% and a net margin of 5.00%. Sell-side analysts anticipate that Adidas AG will post 2.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mar Vista Investment Partners LLC grew its holdings in shares of Adidas by 4.0% during the second quarter. Mar Vista Investment Partners LLC now owns 30,337 shares of the company’s stock worth $3,550,000 after buying an additional 1,180 shares in the last quarter. Madison Asset Management LLC lifted its stake in shares of Adidas by 11.5% during the third quarter. Madison Asset Management LLC now owns 20,442 shares of the company’s stock valued at $2,166,000 after buying an additional 2,110 shares during the period. Yousif Capital Management LLC boosted its position in Adidas by 9.4% during the second quarter. Yousif Capital Management LLC now owns 5,221 shares of the company’s stock worth $607,000 after acquiring an additional 450 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Adidas by 30.1% during the second quarter. GAMMA Investing LLC now owns 1,375 shares of the company’s stock worth $161,000 after acquiring an additional 318 shares during the last quarter.

About Adidas

Adidas AG is a global designer, manufacturer and marketer of athletic footwear, apparel and accessories, headquartered in Herzogenaurach, Germany. Founded by Adolf “Adi” Dassler in 1949, the company has grown into one of the world’s leading sportswear brands, offering products for running, soccer, basketball and a wide range of other sports as well as lifestyle and fashion markets.

Adidas’s product portfolio includes performance footwear, sports apparel, team uniforms, equipment and accessories sold under the Adidas brand and through various collaborations.