Adidas (OTCMKTS:ADDYY) Share Price Passes Below 50 Day Moving Average - Here's What Happened

Key Points

• Adidas shares have fallen below their 50 day moving average of $106.75, with recent trading at $104.28 and a trading volume of 26,611 shares.
• Wall Street analysts show optimism with upgrades for Adidas, as DZ Bank and Jefferies Financial Group both raised their ratings to "strong-buy" and "buy," respectively.
• The company's latest earnings report showed an EPS of $1.15, exceeding expectations, with a revenue of $6.86 billion compared to a consensus estimate of $6.30 billion.

Adidas AG (OTCMKTS:ADDYY - Get Free Report)'s share price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $106.75 and traded as low as $104.02. Adidas shares last traded at $104.28, with a volume of 26,611 shares traded.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Jefferies Financial Group upgraded shares of Adidas from a "hold" rating to a "buy" rating in a research note on Wednesday, September 3rd. DZ Bank raised shares of Adidas from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy".

Adidas Stock Down 0.6%

The company has a market cap of $37.11 billion, a PE ratio of 28.32, a PEG ratio of 0.56 and a beta of 1.16. The stock's 50 day moving average price is $105.70 and its 200-day moving average price is $114.28. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.72 and a current ratio of 1.29.

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

Institutional Investors Weigh In On Adidas

Several institutional investors have recently added to or reduced their stakes in ADDYY. GAMMA Investing LLC increased its stake in shares of Adidas by 17.8% in the 1st quarter. GAMMA Investing LLC now owns 1,057 shares of the company's stock worth $125,000 after acquiring an additional 160 shares in the last quarter. Yousif Capital Management LLC raised its holdings in Adidas by 9.4% in the second quarter. Yousif Capital Management LLC now owns 5,221 shares of the company's stock worth $607,000 after buying an additional 450 shares during the last quarter. Rhumbline Advisers raised its holdings in Adidas by 7.9% in the first quarter. Rhumbline Advisers now owns 9,655 shares of the company's stock worth $1,139,000 after buying an additional 709 shares during the last quarter. Finally, Mar Vista Investment Partners LLC raised 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 purchasing an additional 1,180 shares during 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.