Adidas (OTCMKTS:ADDYY) Sees Strong Trading Volume - Here's Why

Key Points

• Adidas experienced a significant 52% increase in trading volume, with 98,340 shares traded on Tuesday, rising from 64,639 shares the previous day.
• The stock is currently rated as an average of "Buy" by analysts, with mixed ratings including three "Strong Buy," three "Buy," and three "Hold" designations.
• For the last quarter, Adidas reported earnings of $1.15 per share, exceeding expectations and generating revenue of $6.86 billion compared to the anticipated $6.30 billion.

Adidas AG (OTCMKTS:ADDYY - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 98,340 shares traded hands during trading, an increase of 52% from the previous session's volume of 64,639 shares.The stock last traded at $98.79 and had previously closed at $97.50.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ADDYY shares. DZ Bank upgraded shares of Adidas from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 23rd. Piper Sandler initiated coverage on shares of Adidas in a research note on Monday, May 5th. They issued an "overweight" rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Adidas presently has an average rating of "Buy".

Adidas Price Performance

The company's 50 day moving average price is $110.72 and its 200-day moving average price is $117.88. The stock has a market cap of $35.95 billion, a P/E ratio of 27.43, a P/E/G ratio of 0.53 and a beta of 1.18. The company has a quick ratio of 0.72, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

Adidas (OTCMKTS:ADDYY - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. Adidas had a net margin of 4.93% and a return on equity of 20.68%. The firm had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.30 billion. As a group, sell-side analysts expect that Adidas AG will post 2.27 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. 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 valued at $3,550,000 after buying an additional 1,180 shares during the last quarter. Yousif Capital Management LLC grew its holdings in shares of Adidas by 9.4% during the second quarter. Yousif Capital Management LLC now owns 5,221 shares of the company's stock valued at $607,000 after buying an additional 450 shares during the last quarter. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 318 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Adidas by 7.9% during the first quarter. Rhumbline Advisers now owns 9,655 shares of the company's stock worth $1,139,000 after purchasing an additional 709 shares during the last quarter.

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.