Adidas (OTCMKTS:ADDYY) Shares Gap Up – Still a Buy?

Shares of Adidas AG (OTCMKTS:ADDYY) gapped up prior to trading on Wednesday . The stock had previously closed at $91.4930, but opened at $97.12. Adidas shares last traded at $96.96, with a volume of 7,194 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Zacks Research raised shares of Adidas from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Citigroup reissued a “buy” rating on shares of Adidas in a report on Tuesday, February 3rd. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Adidas in a report on Tuesday, May 5th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $146.02.

Adidas Price Performance

The company has a quick ratio of 0.68, a current ratio of 1.32 and a debt-to-equity ratio of 0.33. The firm’s 50 day simple moving average is $82.39 and its 200 day simple moving average is $88.71. The company has a market capitalization of $34.45 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22.

Adidas (OTCMKTS:ADDYY) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.53 by $0.05. The company had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.36 billion. Adidas had a net margin of 5.52% and a return on equity of 23.53%. As a group, research analysts anticipate that Adidas AG will post 5.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

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 11.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,442 shares of the company’s stock after purchasing an additional 2,110 shares during the quarter. Madison Asset Management LLC’s holdings in Adidas were worth $2,166,000 at the end of the most recent reporting period.

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.