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

Adidas AG (OTCMKTS:ADDYY)’s stock price gapped up before the market opened 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 traded.

Wall Street Analyst Weigh In

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

Adidas Price Performance

The firm has a market capitalization of $34.45 billion, a P/E ratio of 21.24, a P/E/G ratio of 1.23 and a beta of 1.22. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.32 and a quick ratio of 0.68. The stock’s fifty day simple moving average is $82.39 and its 200 day simple moving average is $88.71.

Adidas (OTCMKTS:ADDYY) last announced its earnings results on Wednesday, April 29th. The company reported $1.58 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 the consensus estimate of $7.36 billion. Adidas had a net margin of 5.52% and a return on equity of 23.53%. On average, equities research analysts predict that Adidas AG will post 5.46 EPS for the current year.

Institutional Investors Weigh In On Adidas

A hedge fund recently raised its stake in Adidas stock. Madison Asset Management LLC lifted its holdings in shares of Adidas AG (OTCMKTS:ADDYY) by 7.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 24,125 shares of the company’s stock after acquiring an additional 1,582 shares during the period. Madison Asset Management LLC’s holdings in Adidas were worth $1,935,000 at the end of the most recent quarter.

About Adidas

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.