Adidas (OTCMKTS:ADDYY) Sees Unusually-High Trading Volume – Here’s Why

Shares of Adidas AG (OTCMKTS:ADDYY) saw an uptick in trading volume on Tuesday . Approximately 283,929 shares changed hands during mid-day 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.

Analysts Set New Price Targets

ADDYY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. began coverage on Adidas in a report on Thursday, July 2nd. They set an “overweight” rating for the company. Zacks Research upgraded Adidas from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Royal Bank Of Canada raised Adidas from a “sector perform” rating to an “outperform” rating in a report on Wednesday, June 10th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Adidas in a research note on Tuesday, June 30th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Adidas currently has a consensus rating of “Moderate Buy” and an average price target of $146.02.

Adidas Stock Down 1.4%

The stock’s fifty day simple moving average is $96.01 and its 200-day simple moving average is $90.37. The stock has a market cap of $36.64 billion, a P/E ratio of 22.59, a P/E/G ratio of 1.37 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.71 and a current ratio of 1.35.

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

Institutional Inflows and Outflows

A hedge fund recently raised its position in Adidas stock. GAMMA Investing LLC boosted its stake in Adidas AG (OTCMKTS:ADDYY) by 53.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,101 shares of the company’s stock after purchasing an additional 732 shares during the quarter. GAMMA Investing LLC’s holdings in Adidas were worth $216,000 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.