Adidas (OTCMKTS:ADDYY) Shares Gap Up – Should You Buy?

Adidas AG (OTCMKTS:ADDYY) gapped up prior to trading on Friday. The stock had previously closed at $88.19, but opened at $94.59. Adidas shares last traded at $94.6410, with a volume of 3,376 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ADDYY. Robert W. Baird lowered shares of Adidas from a “strong-buy” rating to a “hold” rating in a report on Monday, September 14th. Zacks Research cut shares of Adidas from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 13th. Morgan Stanley reiterated an “overweight” rating on shares of Adidas in a research note on Thursday, September 10th. UBS Group cut shares of Adidas from a “buy” rating to a “neutral” rating in a report on Tuesday, August 4th. Finally, Barclays upgraded shares of Adidas from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.00.

Adidas Stock Up 0.6%

The company’s 50-day simple moving average is $85.54 and its 200 day simple moving average is $89.49. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.39 and a quick ratio of 0.74. The firm has a market cap of $33.60 billion, a P/E ratio of 20.71, a price-to-earnings-growth ratio of 1.16 and a beta of 1.24.

Adidas (OTCMKTS:ADDYY) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.16). The firm had revenue of $7.76 billion for the quarter, compared to analysts’ expectations of $7.55 billion. Adidas had a return on equity of 22.35% and a net margin of 5.30%. Research analysts anticipate that Adidas AG will post 5.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in shares of Adidas by 53.5% during the second quarter. GAMMA Investing LLC now owns 2,101 shares of the company’s stock valued at $216,000 after buying an additional 732 shares during the last quarter. Sterling Capital Management LLC purchased a new stake in Adidas in the 3rd quarter worth approximately $336,000. Finally, Madison Asset Management LLC increased its holdings in Adidas by 7.0% in the first quarter. Madison Asset Management LLC now owns 24,125 shares of the company’s stock valued at $1,935,000 after buying an additional 1,582 shares in the last quarter.

About Adidas

Adidas AG is a Germany-based global sporting goods company that designs, develops, markets and sells athletic footwear, apparel and accessories. Its products serve a broad range of sports and lifestyle categories, including running, football, basketball, training and outdoor activities, as well as casual and fashion-oriented markets.

Founded in 1949 by Adolf “Adi” Dassler, Adidas is headquartered in Herzogenaurach, Germany. The company sells products under the Adidas brand through wholesale partners, company-operated stores, e-commerce platforms and other direct-to-consumer channels.