Adidas AG (OTCMKTS:ADDYY – Get Free Report) shares gapped up prior to trading 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 Analysts Forecast Growth
A number of analysts have recently commented on ADDYY shares. Zacks Research raised Adidas from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Adidas in a research report on Tuesday, May 5th. Finally, Citigroup reaffirmed a “buy” rating on shares of Adidas in a research report on Tuesday, February 3rd. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Adidas presently has a consensus rating of “Hold” and an average target price of $146.02.
Check Out Our Latest Research Report on Adidas
Adidas Price Performance
Adidas (OTCMKTS:ADDYY – Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.05. The business had revenue of $7.71 billion for the quarter, compared to analysts’ expectations of $7.36 billion. Adidas had a return on equity of 23.53% and a net margin of 5.52%. As a group, analysts predict that Adidas AG will post 5.46 EPS for the current year.
Hedge Funds Weigh In On Adidas
A hedge fund recently raised its stake in Adidas stock. Madison Asset Management LLC grew its position in shares of Adidas AG (OTCMKTS:ADDYY – Free Report) by 11.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,442 shares of the company’s stock after buying an additional 2,110 shares during the quarter. Madison Asset Management LLC’s holdings in Adidas were worth $2,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
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.
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