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

Adidas AG (OTCMKTS:ADDYY)’s stock price gapped down prior to trading 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.

Analysts Set New Price Targets

ADDYY has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Adidas in a research note on Wednesday, December 10th. Sanford C. Bernstein restated an “outperform” rating and set a $146.02 price target on shares of Adidas in a report on Tuesday. BTIG Research assumed coverage on Adidas in a report on Tuesday, October 14th. They set a “neutral” rating on the stock. Finally, Bank of America reissued an “underperform” rating on shares of Adidas in a research report on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $146.02.

Adidas Stock Performance

The company has a 50-day moving average price of $94.71 and a two-hundred day moving average price of $103.56. The stock has a market capitalization of $34.12 billion, a P/E ratio of 25.02, a PEG ratio of 0.41 and a beta of 1.20. The company has a quick ratio of 0.71, a current ratio of 1.31 and a debt-to-equity ratio of 0.31.

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

Institutional Investors Weigh In On Adidas

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in 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 buying an additional 318 shares in the last quarter. Yousif Capital Management LLC increased its stake in Adidas by 9.4% in the second quarter. Yousif Capital Management LLC now owns 5,221 shares of the company’s stock valued at $607,000 after acquiring an additional 450 shares during the last quarter. Rhumbline Advisers raised its position in Adidas by 7.9% during the first quarter. Rhumbline Advisers now owns 9,655 shares of the company’s stock valued at $1,139,000 after purchasing an additional 709 shares in the last quarter. Mar Vista Investment Partners LLC lifted its stake in Adidas by 4.0% during the second quarter. Mar Vista Investment Partners LLC now owns 30,337 shares of the company’s stock worth $3,550,000 after purchasing an additional 1,180 shares during the last quarter. Finally, Madison Asset Management LLC boosted its holdings in shares of Adidas by 11.5% in the 3rd quarter. Madison Asset Management LLC now owns 20,442 shares of the company’s stock worth $2,166,000 after purchasing an additional 2,110 shares in the last quarter.

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.