Adidas (OTCMKTS:ADDYY) Sees Large Volume Increase – Should You Buy?

Adidas AG (OTCMKTS:ADDYY) shares saw unusually-high trading volume on Friday. 436,222 shares changed hands during trading, an increase of 345% from the average daily volume of 97,998 shares. The stock last traded at $97.39 and had previously closed at $99.98.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ADDYY. Morgan Stanley reaffirmed an “overweight” rating on shares of Adidas in a report on Thursday, September 10th. UBS Group lowered shares of Adidas from a “neutral” rating to a “sell” rating in a report on Tuesday. Barclays raised shares of Adidas from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, September 1st. Benchmark upgraded shares of Adidas to a “strong-buy” rating in a research note on Tuesday, September 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Adidas in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $146.00.

Adidas Stock Performance

The company has a current ratio of 1.39, a quick ratio of 0.74 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $34.61 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 1.16 and a beta of 1.23. The company has a 50-day moving average of $86.29 and a 200-day moving average of $89.54.

Institutional Trading of Adidas

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in shares of Adidas by 53.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,101 shares of the company’s stock valued at $216,000 after buying an additional 732 shares during the period. Sterling Capital Management LLC bought a new stake in shares of Adidas during the 3rd quarter valued at about $336,000. Finally, Madison Asset Management LLC raised its stake in Adidas by 7.0% during the first quarter. Madison Asset Management LLC now owns 24,125 shares of the company’s stock worth $1,935,000 after acquiring an additional 1,582 shares during the period.

About Adidas

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.