Adidas (OTCMKTS:ADDYY) Sees Large Volume Increase on Analyst Upgrade

Shares of Adidas AG (OTCMKTS:ADDYY) saw unusually-high trading volume on Wednesday after Citigroup upgraded the stock from a buy rating to an overweight rating. Approximately 59,260 shares traded hands during mid-day trading, a decline of 40% from the previous session’s volume of 98,877 shares.The stock last traded at $86.55 and had previously closed at $86.41.

Several other research analysts have also issued reports on ADDYY. Telsey Advisory Group reaffirmed an “outperform” rating on shares of Adidas in a research report on Friday, July 31st. JPMorgan Chase & Co. began coverage on Adidas in a research note on Thursday, July 2nd. They issued an “overweight” rating for the company. Royal Bank Of Canada upgraded Adidas from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, June 10th. Piper Sandler reaffirmed an “overweight” rating on shares of Adidas in a research note on Wednesday, July 15th. Finally, UBS Group cut Adidas from a “buy” rating to a “neutral” rating in a report on Tuesday, August 4th. Ten research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Adidas presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.02.

Hedge Funds Weigh In On Adidas

An institutional investor recently raised its stake in Adidas stock. Madison Asset Management LLC lifted its stake in shares of Adidas AG (OTCMKTS:ADDYY) by 7.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,125 shares of the company’s stock after buying an additional 1,582 shares during the quarter. Madison Asset Management LLC’s holdings in Adidas were worth $1,935,000 as of its most recent filing with the Securities & Exchange Commission.

Adidas Stock Up 0.8%

The firm’s 50 day moving average price is $97.34 and its two-hundred day moving average price is $90.82. The company has a market cap of $31.13 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 1.20 and a beta of 1.26. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.74 and a current ratio of 1.39.

Adidas (OTCMKTS:ADDYY) last issued its earnings results on Thursday, July 30th. The company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.16). The company had revenue of $7.76 billion for the quarter, compared to the consensus estimate of $7.55 billion. Adidas had a return on equity of 22.35% and a net margin of 5.30%. Equities research analysts anticipate that Adidas AG will post 5.35 EPS for the current fiscal year.

Adidas Company Profile

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.