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

Adidas AG (OTCMKTS:ADDYY) shares gapped up prior to trading on Monday . The stock had previously closed at $97.01, but opened at $99.18. Adidas shares last traded at $99.02, with a volume of 2,431 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. BTIG Research assumed coverage on Adidas in a research report on Tuesday, October 14th. They issued a “neutral” rating for the company. Jefferies Financial Group upgraded shares of Adidas from a “hold” rating to a “buy” rating in a research report on Wednesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Adidas in a report on Wednesday, December 10th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy”.

Adidas Stock Up 2.3%

The firm has a market cap of $35.44 billion, a P/E ratio of 25.98, a P/E/G ratio of 0.56 and a beta of 1.23. The business has a fifty day moving average of $96.14 and a 200 day moving average of $104.22. 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 issued its quarterly earnings data on Wednesday, October 29th. The company reported $1.50 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.07). The business had revenue of $7.73 billion for the quarter, compared to analyst estimates of $6.22 billion. Adidas had a return on equity of 20.72% and a net margin of 5.00%. On average, equities research analysts predict that Adidas AG will post 2.27 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ADDYY. Madison Asset Management LLC boosted its stake in Adidas by 11.5% in the 3rd quarter. Madison Asset Management LLC now owns 20,442 shares of the company’s stock valued at $2,166,000 after purchasing an additional 2,110 shares during the period. Mar Vista Investment Partners LLC grew its holdings in shares of Adidas by 4.0% during the 2nd quarter. Mar Vista Investment Partners LLC now owns 30,337 shares of the company’s stock valued at $3,550,000 after purchasing an additional 1,180 shares during the last quarter. Yousif Capital Management LLC lifted its stake in shares of Adidas by 9.4% in the 2nd 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. GAMMA Investing LLC boosted its stake in shares of Adidas by 30.1% during the second quarter. GAMMA Investing LLC now owns 1,375 shares of the company’s stock valued at $161,000 after purchasing an additional 318 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in Adidas by 7.9% during the 1st quarter. Rhumbline Advisers now owns 9,655 shares of the company’s stock worth $1,139,000 after acquiring an additional 709 shares during 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.