Adidas (OTCMKTS:ADDYY) Sees Large Volume Increase – Should You Buy?

Shares of Adidas AG (OTCMKTS:ADDYY) saw unusually-strong trading volume on Friday. 436,222 shares traded hands during trading, an increase of 345% from the average daily volume of 97,998 shares. The stock last traded at $97.39 and had previously closed at $99.98.

Analyst Ratings Changes

Several analysts recently issued reports on the company. UBS Group downgraded Adidas from a “neutral” rating to a “sell” rating in a report on Tuesday. Benchmark raised Adidas to a “strong-buy” rating in a research report on Tuesday, September 22nd. Piper Sandler reaffirmed an “overweight” rating on shares of Adidas in a research report on Wednesday, July 15th. Zacks Research cut Adidas from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 13th. Finally, Robert W. Baird downgraded shares of Adidas from a “strong-buy” rating to a “hold” rating in a report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $146.00.

Adidas Trading Down 3.1%

The company has a current ratio of 1.39, a quick ratio of 0.74 and a debt-to-equity ratio of 0.39. The stock has a market cap of $34.61 billion, a P/E ratio of 18.00, a PEG ratio of 1.16 and a beta of 1.23. The firm’s 50-day simple moving average is $86.29 and its 200 day simple moving average is $89.54.

Hedge Funds Weigh In On Adidas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ADDYY. Sterling Capital Management LLC bought a new position in Adidas in the 3rd quarter worth approximately $336,000. GAMMA Investing LLC boosted its position in Adidas by 7.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,249 shares of the company’s stock worth $185,000 after acquiring an additional 148 shares during the period. Finally, Madison Asset Management LLC boosted its position in Adidas by 7.0% during the 1st quarter. Madison Asset Management LLC now owns 24,125 shares of the company’s stock worth $1,935,000 after acquiring an additional 1,582 shares during the period.

About Adidas

Adidas AG is a Germany-based global sporting goods company that designs, develops, markets and sells athletic footwear, apparel and accessories. Its products serve a broad range of sports and lifestyle categories, including running, football, basketball, training and outdoor activities, as well as casual and fashion-oriented markets.

Founded in 1949 by Adolf “Adi” Dassler, Adidas is headquartered in Herzogenaurach, Germany. The company sells products under the Adidas brand through wholesale partners, company-operated stores, e-commerce platforms and other direct-to-consumer channels.