Adidas (OTCMKTS:ADDYY) Share Price Breaks Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Adidas shares rose above their 200-day moving average, reaching $93.67 and last trading at $93.47, up 6.0%.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $146.00, although UBS downgraded the stock to “neutral.”
• Adidas reported quarterly EPS of $1.22, below the $1.38 consensus estimate, while revenue of $7.76 billion exceeded expectations of $7.55 billion.

Adidas AG (OTCMKTS:ADDYY - Get Free Report) passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $89.49 and traded as high as $93.67. Adidas shares last traded at $93.47, with a volume of 76,447 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ADDYY shares. Morgan Stanley reiterated an "overweight" rating on shares of Adidas in a report on Thursday, September 10th. UBS Group cut shares of Adidas from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 4th. Piper Sandler reaffirmed an "overweight" rating on shares of Adidas in a research note on Wednesday, July 15th. Telsey Advisory Group reiterated an "outperform" rating on shares of Adidas in a report on Friday, July 31st. Finally, Benchmark raised Adidas to a "strong-buy" rating in a research note on Tuesday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $146.00.

Adidas Trading Up 6.0%

The company has a market cap of $33.40 billion, a P/E ratio of 20.59, a P/E/G ratio of 1.16 and a beta of 1.24. The business's 50-day moving average price is $85.54 and its 200 day moving average price is $89.49. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.74 and a current ratio of 1.39.

Adidas (OTCMKTS:ADDYY - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.16). Adidas had a return on equity of 22.35% and a net margin of 5.30%. The company had revenue of $7.76 billion for the quarter, compared to the consensus estimate of $7.55 billion. As a group, analysts expect that Adidas AG will post 5.34 earnings per share for the current year.

Institutional Trading of Adidas

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Adidas by 7.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,249 shares of the company's stock worth $185,000 after acquiring an additional 148 shares during the last quarter. Madison Asset Management LLC grew its stake in shares of Adidas by 7.0% in the first quarter. Madison Asset Management LLC now owns 24,125 shares of the company's stock worth $1,935,000 after purchasing an additional 1,582 shares during the last quarter. Finally, Sterling Capital Management LLC acquired a new stake in Adidas in the third quarter valued at $336,000.

Adidas Company Profile

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.

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