Adidas (OTCMKTS:ADDYY) Stock Passes Above 50 Day Moving Average – Here’s What Happened

Adidas AG (OTCMKTS:ADDYY) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $81.55 and traded as high as $87.11. Adidas shares last traded at $85.93, with a volume of 76,974 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ADDYY shares. Royal Bank Of Canada restated a “sector perform” rating on shares of Adidas in a report on Tuesday, May 5th. Citigroup restated a “buy” rating on shares of Adidas in a report on Tuesday, February 3rd. Finally, Zacks Research upgraded Adidas from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Adidas currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.02.

Adidas Stock Performance

The company’s fifty day simple moving average is $81.55 and its two-hundred day simple moving average is $88.94. The company has a market capitalization of $30.71 billion, a price-to-earnings ratio of 18.93, a price-to-earnings-growth ratio of 1.16 and a beta of 1.22. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.68 and a current ratio of 1.32.

Adidas (OTCMKTS:ADDYY) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.53 by $0.05. Adidas had a net margin of 5.52% and a return on equity of 23.53%. The business had revenue of $7.71 billion for the quarter, compared to analysts’ expectations of $7.36 billion. Equities research analysts predict that Adidas AG will post 5.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adidas

A hedge fund recently raised its stake in Adidas stock. Madison Asset Management LLC lifted its position in Adidas AG (OTCMKTS:ADDYY) by 7.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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.