Adidas (OTCMKTS:ADDYY) Share Price Passes Below 50-Day Moving Average – Here’s What Happened

Shares of Adidas AG (OTCMKTS:ADDYY) crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $100.08 and traded as low as $92.9887. Adidas shares last traded at $93.23, with a volume of 34,944 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ADDYY. UBS Group downgraded shares of Adidas from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 4th. Royal Bank Of Canada upgraded shares of Adidas from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, June 10th. Telsey Advisory Group reissued an “outperform” rating on shares of Adidas in a research report on Friday, July 31st. Zacks Research raised shares of Adidas from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Piper Sandler restated an “overweight” rating on shares of Adidas in a report on Wednesday, July 15th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $146.02.

Adidas Price Performance

The company has a 50-day moving average price of $100.08 and a two-hundred day moving average price of $90.80. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.35 and a quick ratio of 0.71. The company has a market cap of $33.31 billion, a PE ratio of 20.54, a P/E/G ratio of 1.31 and a beta of 1.26.

Adidas (OTCMKTS:ADDYY) last announced 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 company had revenue of $7.76 billion for the quarter, compared to analysts’ expectations of $7.55 billion. Adidas had a net margin of 5.30% and a return on equity of 22.53%. Sell-side analysts expect that Adidas AG will post 5.35 earnings per share for the current fiscal year.

Institutional Trading of Adidas

A hedge fund recently raised its position in Adidas stock. Madison Asset Management LLC grew its position in shares of Adidas AG (OTCMKTS:ADDYY) by 7.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,125 shares of the company’s stock after purchasing an additional 1,582 shares during the period. Madison Asset Management LLC’s holdings in Adidas were worth $1,935,000 as of its most recent SEC filing.

Adidas Company Profile

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.