Adidas (OTCMKTS:ADDYY) Stock Price Crosses Below Fifty Day Moving Average – What’s Next?

Adidas AG (OTCMKTS:ADDYY) shares crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $94.19 and traded as low as $87.0350. Adidas shares last traded at $88.12, with a volume of 72,795 shares.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ADDYY shares. Citigroup reiterated a “buy” rating on shares of Adidas in a research report on Tuesday. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $146.02 target price on shares of Adidas in a research note on Tuesday, January 6th. Santander initiated coverage on shares of Adidas in a research report on Thursday, January 15th. They issued an “outperform” rating on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Adidas in a research report on Wednesday, December 10th. Finally, Royal Bank Of Canada cut shares of Adidas from an “outperform” rating to a “sector perform” rating in a research note on Friday, January 23rd. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $146.02.

Adidas Trading Down 0.8%

The company has a current ratio of 1.31, a quick ratio of 0.71 and a debt-to-equity ratio of 0.31. The stock has a market cap of $31.47 billion, a price-to-earnings ratio of 23.07, a P/E/G ratio of 0.40 and a beta of 1.18. The company has a fifty day simple moving average of $94.19 and a 200-day simple moving average of $99.41.

Hedge Funds Weigh In On Adidas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADDYY. Yousif Capital Management LLC grew its position in Adidas by 9.4% during the 2nd quarter. Yousif Capital Management LLC now owns 5,221 shares of the company’s stock worth $607,000 after purchasing an additional 450 shares in the last quarter. Mar Vista Investment Partners LLC boosted its position in shares of Adidas by 4.0% in the second quarter. Mar Vista Investment Partners LLC now owns 30,337 shares of the company’s stock worth $3,550,000 after buying an additional 1,180 shares during the period. Finally, Madison Asset Management LLC grew its holdings in shares of Adidas by 11.5% during the third quarter. Madison Asset Management LLC now owns 20,442 shares of the company’s stock valued at $2,166,000 after buying an additional 2,110 shares in the last quarter.

About Adidas

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.