Adidas (OTCMKTS:ADDYY) Sees Strong Trading Volume - What's Next?

Key Points

• Adidas experienced a 2% increase in trading volume, with 68,203 shares traded, while the stock price declined to $111.14 from the previous close of $113.00.
• Analysts have given Adidas an average rating of "Buy," with three analysts rating it as Strong Buy and others providing a mix of Buy and Hold ratings.
• In its latest quarterly earnings report, Adidas exceeded expectations with earnings of $1.15 per share on revenue of $6.86 billion, surpassing estimates of $1.13 and $6.30 billion, respectively.

Adidas AG (OTCMKTS:ADDYY - Get Free Report) saw an uptick in trading volume on Wednesday . 68,203 shares were traded during trading, an increase of 2% from the previous session's volume of 67,162 shares.The stock last traded at $111.14 and had previously closed at $113.00.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Jefferies Financial Group upgraded Adidas from a "hold" rating to a "buy" rating in a research report on Wednesday, September 3rd. BTIG Research began coverage on Adidas in a research note on Tuesday, October 14th. They issued a "neutral" rating on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Buy".

Adidas Price Performance

The company's 50 day moving average price is $104.73 and its 200-day moving average price is $112.10. The company has a current ratio of 1.25, a quick ratio of 0.67 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $39.27 billion, a PE ratio of 29.96, a PEG ratio of 0.60 and a beta of 1.22.

Adidas (OTCMKTS:ADDYY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.15 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.02. Adidas had a net margin of 4.93% and a return on equity of 20.66%. The firm had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.30 billion. On average, sell-side analysts forecast that Adidas AG will post 2.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ADDYY. GAMMA Investing LLC lifted its position in shares of Adidas by 17.8% in the 1st quarter. GAMMA Investing LLC now owns 1,057 shares of the company's stock valued at $125,000 after acquiring an additional 160 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Adidas by 7.9% in the 1st quarter. Rhumbline Advisers now owns 9,655 shares of the company's stock valued at $1,139,000 after acquiring an additional 709 shares in the last quarter. Mar Vista Investment Partners LLC lifted its position in shares of Adidas by 4.0% in the 2nd quarter. Mar Vista Investment Partners LLC now owns 30,337 shares of the company's stock valued at $3,550,000 after acquiring an additional 1,180 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its position in shares of Adidas by 9.4% in the 2nd quarter. Yousif Capital Management LLC now owns 5,221 shares of the company's stock valued at $607,000 after acquiring an additional 450 shares in the last quarter.

About Adidas

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.

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