Adidas AG (OTCMKTS:ADDYY) Stock Short Interest Rises 855.6%

Adidas AG (OTCMKTS:ADDYY) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 75,865 shares, a growth of 855.6% from the August 31st total of 7,939 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 184,452 shares, the days-to-cover ratio is currently 0.4 days.

Analysts Set New Price Targets

Several research firms recently issued reports on ADDYY. Morgan Stanley reiterated an “overweight” rating on shares of Adidas in a research note on Thursday, September 10th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Adidas in a research report on Tuesday, June 30th. Barclays raised shares of Adidas from an “equal weight” rating to an “overweight” rating in a report on Tuesday, September 1st. Citigroup upgraded shares of Adidas from a “buy” rating to an “overweight” rating in a research report on Tuesday, September 1st. Finally, Robert W. Baird lowered shares of Adidas from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Adidas currently has an average rating of “Moderate Buy” and an average target price of $146.02.

Institutional Investors Weigh In On Adidas

An institutional investor recently raised its position in Adidas stock. Madison Asset Management LLC raised its holdings in shares of Adidas AG (OTCMKTS:ADDYY) by 7.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,125 shares of the company’s stock after buying 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.

Adidas Price Performance

Shares of Adidas stock traded down $0.68 during mid-day trading on Thursday, reaching $81.35. 84,772 shares of the stock traded hands, compared to its average volume of 98,201. The business has a 50-day moving average of $90.97 and a 200 day moving average of $89.99. Adidas has a fifty-two week low of $75.19 and a fifty-two week high of $118.00. The stock has a market capitalization of $29.07 billion, a PE ratio of 17.92, a PEG ratio of 1.19 and a beta of 1.25. 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 released its earnings results on Thursday, July 30th. The company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.16). The firm had revenue of $7.76 billion during the quarter, compared to analysts’ expectations of $7.55 billion. Adidas had a net margin of 5.30% and a return on equity of 22.35%. On average, analysts predict that Adidas will post 5.3 EPS for the current year.

Adidas Company Profile

Adidas AG is a global sporting goods company headquartered in Herzogenaurach, Germany. The company designs, manufactures and markets athletic and lifestyle footwear, apparel and accessories under the adidas brand, serving consumers, athletes, teams and sports organizations worldwide.

Its products cover sports including football, running, basketball, training and outdoor activities, as well as casual and streetwear categories. Adidas distributes its products through wholesale partners, company-operated stores and digital commerce channels across markets in Europe, North America, Asia-Pacific, Latin America and other regions.

The company was founded by Adolf “Adi” Dassler in 1949, following his earlier work developing sports shoes.