Short Interest in Adidas AG (OTCMKTS:ADDYY) Declines By 56.0%

Key Points

• Short interest fell 56% in March to 14,099 shares as of March 31, leaving a days-to-cover ratio of 0.1 and effectively 0.0% of shares shorted.
• Wall Street is mixed but the consensus rating is a "Moderate Buy" with a consensus target price of $146.02, while individual analyst opinions range from Strong Buy to Sell.
• Adidas reported quarterly EPS of $0.25 (missed by $0.01) while revenue beat at $7.03 billion; the stock trades around $80.94 with a market cap of $28.92 billion and a P/E of 19.23.

Adidas AG (OTCMKTS:ADDYY - Get Free Report) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totaling 14,099 shares, a decline of 56.0% from the March 15th total of 32,041 shares. Based on an average daily trading volume, of 199,825 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the company's shares are short sold.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Adidas stock. Madison Asset Management LLC increased its holdings in shares of Adidas AG (OTCMKTS:ADDYY - Free Report) by 11.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,442 shares of the company's stock after purchasing an additional 2,110 shares during the quarter. Madison Asset Management LLC's holdings in Adidas were worth $2,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ADDYY shares. Sanford C. Bernstein reiterated an "outperform" rating and set a $146.02 price target on shares of Adidas in a research report on Tuesday, January 6th. Bank of America reissued an "underperform" rating on shares of Adidas in a research note on Tuesday, January 6th. Royal Bank Of Canada lowered shares of Adidas from an "outperform" rating to a "sector perform" rating in a research note on Friday, January 23rd. Citigroup reissued a "buy" rating on shares of Adidas in a research note on Tuesday, February 3rd. Finally, Zacks Research lowered shares of Adidas from a "hold" rating to a "strong sell" rating in a research note on Friday, March 6th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $146.02.

Adidas Trading Up 0.2%

OTCMKTS:ADDYY opened at $80.94 on Friday. The company's 50 day moving average price is $84.77 and its 200-day moving average price is $93.35. Adidas has a 52 week low of $75.19 and a 52 week high of $126.59. The company has a quick ratio of 0.68, a current ratio of 1.32 and a debt-to-equity ratio of 0.33. The stock has a market cap of $28.92 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 1.18 and a beta of 1.22.

Adidas (OTCMKTS:ADDYY - Get Free Report) last posted its quarterly earnings results on Wednesday, March 4th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $7.03 billion during the quarter, compared to analysts' expectations of $6.15 billion. Adidas had a return on equity of 22.31% and a net margin of 5.36%. On average, equities research analysts forecast that Adidas will post 2.27 earnings per share for the current fiscal year.

Adidas Company Profile

Adidas AG is a global designer, manufacturer and marketer of athletic footwear, apparel and accessories, headquartered in Herzogenaurach, Germany. Founded by Adolf "Adi" Dassler in 1949, the company has grown into one of the world's leading sportswear brands, offering products for running, soccer, basketball and a wide range of other sports as well as lifestyle and fashion markets.

Adidas's product portfolio includes performance footwear, sports apparel, team uniforms, equipment and accessories sold under the Adidas brand and through various collaborations.

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