Adidas (OTCMKTS:ADDYY) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Adidas AG (OTCMKTS:ADDYY) shares passed above its 200-day moving average during trading on Thursday. The stock has a 200-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.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. began coverage on Adidas in a report on Thursday, July 2nd. They issued an “overweight” rating on the stock. Barclays upgraded shares of Adidas from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, September 1st. Morgan Stanley restated an “overweight” rating on shares of Adidas in a report on Thursday, September 10th. Piper Sandler reaffirmed an “overweight” rating on shares of Adidas in a research note on Wednesday, July 15th. Finally, Citigroup reaffirmed a “buy” rating on shares of Adidas in a research note on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $146.00.

Adidas Stock Performance

The company has a 50-day moving average price of $85.54 and a two-hundred day moving average price of $89.49. The company has a market capitalization of $33.40 billion, a PE ratio of 20.59, a PEG ratio of 1.16 and a beta of 1.24. The company has a quick ratio of 0.74, a current ratio of 1.39 and a debt-to-equity ratio of 0.39.

Adidas (OTCMKTS:ADDYY) last announced its quarterly 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). Adidas had a net margin of 5.30% and a return on equity of 22.35%. The firm had revenue of $7.76 billion during the quarter, compared to the consensus estimate of $7.55 billion. Analysts predict that Adidas AG will post 5.34 EPS for the current fiscal year.

Institutional Trading of Adidas

Several hedge funds have recently added to or reduced their stakes in the business. Madison Asset Management LLC lifted 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 purchasing an additional 1,582 shares during the last quarter. Sterling Capital Management LLC purchased a new stake in Adidas in the third quarter worth about $336,000. Finally, GAMMA Investing LLC increased its stake in shares of Adidas by 53.5% in the 2nd 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.