Adidas (OTCMKTS:ADDYY) Stock Price Breaks Above Two Hundred Day Moving Average – What’s Next?

Adidas AG (OTCMKTS:ADDYY) shares passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred 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 changing hands.

Analysts Set New Price Targets

Several research analysts have commented on the company. UBS Group downgraded Adidas from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 4th. Zacks Research downgraded shares of Adidas from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 13th. Piper Sandler reaffirmed an “overweight” rating on shares of Adidas in a research report on Wednesday, July 15th. Barclays upgraded shares of Adidas from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, September 1st. Finally, Benchmark upgraded shares of Adidas to a “strong-buy” rating in a research report on Tuesday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $146.00.

Adidas Price Performance

The stock has a 50-day simple moving average of $85.65 and a 200 day simple moving average of $89.47. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.74 and a current ratio of 1.39. The company has a market cap of $33.49 billion, a P/E ratio of 17.42, a P/E/G ratio of 1.23 and a beta of 1.24.

Adidas (OTCMKTS:ADDYY) last issued 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). The firm had revenue of $7.76 billion during the quarter, compared to the consensus estimate of $7.55 billion. Adidas had a return on equity of 26.00% and a net margin of 6.08%. On average, equities analysts expect that Adidas AG will post 5.34 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC bought a new position in shares of Adidas during the 3rd quarter worth approximately $336,000. Madison Asset Management LLC grew its position in Adidas by 7.0% in the first quarter. Madison Asset Management LLC now owns 24,125 shares of the company’s stock valued at $1,935,000 after acquiring an additional 1,582 shares during the period. Finally, GAMMA Investing LLC raised its stake in Adidas by 53.5% during the second quarter. GAMMA Investing LLC now owns 2,101 shares of the company’s stock worth $216,000 after acquiring an additional 732 shares in the last quarter.

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.