adidas (OTCMKTS:ADDYY) Stock Crosses Below Fifty Day Moving Average – Here’s What Happened

adidas AG (OTCMKTS:ADDYY)’s share price 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 traded.

Analyst Ratings Changes

A number of brokerages recently issued reports on ADDYY. HSBC downgraded shares of adidas from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Barclays reissued an “equal weight” rating on shares of adidas in a report on Monday, September 9th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, adidas currently has an average rating of “Moderate Buy”.

adidas Stock Up 0.9 %

The stock has a fifty day moving average price of $119.76 and a two-hundred day moving average price of $121.80. The company has a market capitalization of $44.32 billion, a price-to-earnings ratio of 95.46 and a beta of 1.20.

adidas (OTCMKTS:ADDYY) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.25. The business had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.01 billion. adidas had a return on equity of 7.93% and a net margin of 1.91%. As a group, research analysts forecast that adidas AG will post 2.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On adidas

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew 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 worth $105,000 after purchasing an additional 180 shares during the period. Capital Square LLC acquired a new stake in shares of adidas in the second quarter valued at about $1,616,000. Finally, Hantz Financial Services Inc. purchased a new stake in adidas during the 2nd quarter worth approximately $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.