adidas (OTCMKTS:ADDYY) Shares Pass Below Fifty Day Moving Average – What’s Next?

Shares of adidas AG (OTCMKTS:ADDYY) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $119.69 and traded as low as $119.28. adidas shares last traded at $122.98, with a volume of 19,592 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ADDYY shares. Barclays reaffirmed an “equal weight” rating on shares of adidas in a report on Monday, September 9th. HSBC downgraded shares of adidas from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, adidas has an average rating of “Moderate Buy”.

adidas Stock Up 0.4 %

The firm has a 50 day simple moving average of $119.69 and a two-hundred day simple moving average of $121.77. The stock has a market capitalization of $43.92 billion, a P/E ratio of 94.60 and a beta of 1.20.

adidas (OTCMKTS:ADDYY) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.25. adidas had a return on equity of 7.93% and a net margin of 1.91%. The company had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.01 billion. On average, research analysts predict that adidas AG will post 2.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ADDYY. GAMMA Investing LLC boosted its holdings in shares of adidas by 29.4% during the 3rd quarter. GAMMA Investing LLC now owns 792 shares of the company’s stock valued at $105,000 after acquiring an additional 180 shares in the last quarter. Capital Square LLC bought a new position in adidas in the second quarter valued at about $1,616,000. Finally, Hantz Financial Services Inc. acquired a new stake in shares of adidas during the second quarter valued at about $4,809,000.

About adidas

adidas AG, together with its subsidiaries, designs, develops, produces, and markets athletic and sports lifestyle products in Europe, the Middle East, Africa, North America, Greater China, the Asia-Pacific, and Latin America. It offers footwear, apparel, and accessories and gear, such as bags and balls under the adidas brand; golf footwear and apparel under the adidas Golf brand; and outdoor footwear under the Five Ten brand.