Adidas (OTCMKTS:ADDYY) Stock Crosses Below 50 Day Moving Average – Here’s Why

Adidas AG (OTCMKTS:ADDYY)’s stock price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $98.05 and traded as low as $88.75. Adidas shares last traded at $88.94, with a volume of 70,797 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. UBS Group downgraded shares of Adidas from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 4th. Zacks Research raised Adidas from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. Piper Sandler reaffirmed an “overweight” rating on shares of Adidas in a research report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Adidas in a research report on Tuesday, June 30th. Finally, Royal Bank Of Canada upgraded Adidas from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, June 10th. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $146.02.

Adidas Price Performance

The stock has a 50 day simple moving average of $97.80 and a two-hundred day simple moving average of $90.90. The firm has a market cap of $31.88 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 1.21 and a beta of 1.26. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.71 and a current ratio of 1.39.

Adidas (OTCMKTS:ADDYY) last issued its earnings results on Thursday, July 30th. The company reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.16). The company had revenue of $7.76 billion during the quarter, compared to analysts’ expectations of $7.55 billion. Adidas had a return on equity of 22.35% and a net margin of 5.30%. Sell-side analysts expect that Adidas AG will post 5.35 earnings per share for the current year.

Institutional Investors Weigh In On Adidas

An institutional investor recently raised its position in Adidas stock. Madison Asset Management LLC grew its stake in Adidas AG (OTCMKTS:ADDYY) by 7.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,125 shares of the company’s stock after acquiring an additional 1,582 shares during the quarter. Madison Asset Management LLC’s holdings in Adidas were worth $1,935,000 as of its most recent SEC filing.

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.