Adidas (OTCMKTS:ADDYY) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Adidas AG (OTCMKTS:ADDYY) saw unusually-high trading volume on Tuesday . Approximately 283,929 shares traded hands during trading, an increase of 204% from the previous session’s volume of 93,495 shares.The stock last traded at $102.48 and had previously closed at $104.04.

Analyst Ratings Changes

Several equities research analysts have recently commented on ADDYY shares. Piper Sandler reaffirmed an “overweight” rating on shares of Adidas in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Adidas in a report on Tuesday, June 30th. Zacks Research raised Adidas from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. assumed coverage on shares of Adidas in a report on Thursday, July 2nd. They set an “overweight” rating for the company. Finally, Royal Bank Of Canada raised shares of Adidas from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, June 10th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Adidas currently has an average rating of “Moderate Buy” and an average target price of $146.02.

Adidas Stock Performance

The business’s 50-day moving average price is $96.72 and its 200-day moving average price is $90.46. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.71 and a current ratio of 1.35. The stock has a market cap of $37.38 billion, a P/E ratio of 23.04, a P/E/G ratio of 1.35 and a beta of 1.24.

Adidas (OTCMKTS:ADDYY) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.05. The business had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.36 billion. Adidas had a return on equity of 22.97% and a net margin of 5.52%. As a group, sell-side analysts expect that Adidas AG will post 5.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adidas

A hedge fund recently raised its position in Adidas stock. Madison Asset Management LLC grew its holdings in Adidas AG (OTCMKTS:ADDYY) by 10.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,543 shares of the company’s stock after purchasing an additional 2,101 shares during the quarter. Madison Asset Management LLC’s holdings in Adidas were worth $2,228,000 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.