Adidas AG (OTCMKTS:ADDYY) Sees Significant Decrease in Short Interest

Adidas AG (OTCMKTS:ADDYY) saw a large decrease in short interest in the month of July. As of July 15th, there was short interest totaling 7,629 shares, a decrease of 90.3% from the June 30th total of 78,600 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 157,520 shares, the short-interest ratio is presently 0.0 days.

Adidas Stock Up 1.6%

ADDYY stock opened at $98.50 on Friday. The firm has a market cap of $35.20 billion, a PE ratio of 21.70, a P/E/G ratio of 1.26 and a beta of 1.24. Adidas has a 12 month low of $75.19 and a 12 month high of $118.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.35 and a quick ratio of 0.71. The firm has a 50 day simple moving average of $98.99 and a 200 day simple moving average of $90.67.

Adidas (OTCMKTS:ADDYY) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $1.58 earnings per share (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 firm had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.36 billion. Equities research analysts forecast that Adidas will post 5.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ADDYY. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Adidas in a research note on Tuesday, June 30th. Piper Sandler reaffirmed an “overweight” rating on shares of Adidas in a research note on Wednesday, July 15th. Royal Bank Of Canada upgraded Adidas from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, June 10th. JPMorgan Chase & Co. assumed coverage on Adidas in a research note on Thursday, July 2nd. They issued an “overweight” rating on the stock. Finally, Zacks Research upgraded Adidas from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Adidas presently has a consensus rating of “Moderate Buy” and an average price target of $146.02.

Hedge Funds Weigh In On Adidas

A hedge fund recently raised its position in Adidas stock. Madison Asset Management LLC boosted its stake in shares of Adidas AG (OTCMKTS:ADDYY) by 10.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,543 shares of the company’s stock after buying an additional 2,101 shares during the period. Madison Asset Management LLC’s holdings in Adidas were worth $2,228,000 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.