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

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) crossed 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.

Wall Street Analysts Forecast Growth

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

Adidas Trading Down 0.2%

The company has a market capitalization of $37.24 billion, a P/E ratio of 28.41, a P/E/G ratio of 0.57 and a beta of 1.16. The stock's 50 day moving average is $106.75 and its 200-day moving average is $114.95. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.72.

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, topping analysts' consensus estimates of $1.13 by $0.02. Adidas had a net margin of 4.93% and a return on equity of 20.68%. The company had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.30 billion. As a group, equities research analysts anticipate that Adidas AG will post 2.27 earnings per share for the current year.

Hedge Funds Weigh In On Adidas

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in shares of Adidas by 17.8% during the first quarter. GAMMA Investing LLC now owns 1,057 shares of the company's stock valued at $125,000 after purchasing an additional 160 shares in the last quarter. Yousif Capital Management LLC increased its stake 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 purchasing an additional 450 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Adidas by 7.9% during the first quarter. Rhumbline Advisers now owns 9,655 shares of the company's stock valued at $1,139,000 after purchasing an additional 709 shares in the last quarter. Finally, Mar Vista Investment Partners LLC increased its stake 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 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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