Adidas (OTCMKTS:ADDYY) Shares Gap Down – Here’s Why

Adidas AG (OTCMKTS:ADDYY)’s share price gapped down before the market opened on Monday . The stock had previously closed at $88.49, but opened at $84.15. Adidas shares last traded at $84.3265, with a volume of 6,868 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Adidas in a report on Tuesday, May 5th. Zacks Research upgraded shares of Adidas from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Citigroup reiterated a “buy” rating on shares of Adidas in a research note on Tuesday, February 3rd. Finally, Santander assumed coverage on Adidas in a research note on Thursday, January 15th. They set an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $146.02.

Adidas Price Performance

The company has a current ratio of 1.32, a quick ratio of 0.68 and a debt-to-equity ratio of 0.33. The firm has a market cap of $29.94 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 1.14 and a beta of 1.22. The company’s 50-day moving average is $81.59 and its 200-day moving average is $89.62.

Adidas (OTCMKTS:ADDYY) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.05. The business had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.36 billion. Adidas had a net margin of 5.52% and a return on equity of 23.53%. Equities research analysts predict that Adidas AG will post 5.46 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Adidas stock. Madison Asset Management LLC raised its holdings in Adidas AG (OTCMKTS:ADDYY) by 11.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,442 shares of the company’s stock after acquiring an additional 2,110 shares during the period. Madison Asset Management LLC’s holdings in Adidas were worth $2,166,000 at the end of the most recent 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.