Adidas (OTCMKTS:ADDYY) Sees Large Volume Increase – Here’s What Happened

Adidas AG (OTCMKTS:ADDYY) shares saw an uptick in trading volume on Friday . Approximately 280,776 shares changed hands during mid-day trading, an increase of 189% from the previous session’s volume of 96,996 shares.The stock last traded at $92.81 and had previously closed at $91.81.

Analyst Ratings Changes

ADDYY has been the topic of several recent research reports. Royal Bank Of Canada upgraded shares of Adidas from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, June 10th. Telsey Advisory Group reissued an “outperform” rating on shares of Adidas in a research report on Friday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Adidas in a research report on Tuesday, June 30th. Piper Sandler reissued an “overweight” rating on shares of Adidas in a research report on Wednesday, July 15th. Finally, Zacks Research raised Adidas from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Adidas presently has an average rating of “Moderate Buy” and a consensus price target of $146.02.

Adidas Stock Performance

The firm has a fifty day simple moving average of $100.10 and a 200 day simple moving average of $90.73. The company has a current ratio of 1.35, a quick ratio of 0.71 and a debt-to-equity ratio of 0.31. The stock has a market cap of $33.18 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 1.34 and a beta of 1.24.

Adidas (OTCMKTS:ADDYY) last announced its quarterly earnings data 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). Adidas had a return on equity of 22.97% and a net margin of 5.52%.The firm had revenue of $7.76 billion for the quarter, compared to analyst estimates of $7.55 billion. As a group, sell-side analysts expect that Adidas AG will post 5.48 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Adidas stock. GAMMA Investing LLC grew its position in Adidas AG (OTCMKTS:ADDYY) by 53.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,101 shares of the company’s stock after purchasing an additional 732 shares during the period. GAMMA Investing LLC’s holdings in Adidas were worth $216,000 as of its most recent filing with the SEC.

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.