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

Adidas AG (OTCMKTS:ADDYY)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $99.90, but opened at $94.12. Adidas shares last traded at $93.7650, with a volume of 199,560 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ADDYY. BTIG Research initiated coverage on shares of Adidas in a research note on Tuesday, October 14th. They issued a “neutral” rating on the stock. Sanford C. Bernstein restated an “outperform” rating and issued a $146.02 price objective on shares of Adidas in a report on Tuesday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Adidas in a research note on Wednesday, December 10th. Finally, Bank of America reissued an “underperform” rating on shares of Adidas in a report on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $146.02.

Adidas Price Performance

The firm has a 50-day simple moving average of $94.43 and a 200-day simple moving average of $103.38. The firm has a market capitalization of $34.41 billion, a PE ratio of 25.23, a PEG ratio of 0.39 and a beta of 1.20. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.31 and a quick ratio of 0.71.

Adidas (OTCMKTS:ADDYY) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.07). The business had revenue of $7.73 billion during the quarter, compared to the consensus estimate of $6.22 billion. Adidas had a return on equity of 20.72% and a net margin of 5.00%. As a group, equities analysts forecast that Adidas AG will post 2.27 earnings per share for the current year.

Institutional Investors Weigh In On Adidas

A number of hedge funds have recently modified their holdings of ADDYY. GAMMA Investing LLC increased its stake in shares of Adidas by 30.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,375 shares of the company’s stock worth $161,000 after purchasing an additional 318 shares in the last quarter. Yousif Capital Management LLC grew its holdings in Adidas by 9.4% during the second quarter. Yousif Capital Management LLC now owns 5,221 shares of the company’s stock valued at $607,000 after purchasing an additional 450 shares during the period. Rhumbline Advisers increased its position in Adidas by 7.9% in the first quarter. Rhumbline Advisers now owns 9,655 shares of the company’s stock worth $1,139,000 after buying an additional 709 shares in the last quarter. Madison Asset Management LLC increased its position in Adidas by 11.5% in the third quarter. Madison Asset Management LLC now owns 20,442 shares of the company’s stock worth $2,166,000 after buying an additional 2,110 shares in the last quarter. Finally, Mar Vista Investment Partners LLC raised its stake 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.

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.