adidas AG (OTCMKTS:ADDYY – Get Rating) was the target of a large increase in short interest in September. As of September 15th, there was short interest totalling 17,700 shares, an increase of 92.4% from the August 31st total of 9,200 shares. Based on an average trading volume of 354,300 shares, the days-to-cover ratio is presently 0.0 days.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on ADDYY. Royal Bank of Canada lowered their price objective on adidas from €190.00 ($193.88) to €160.00 ($163.27) and set an "outperform" rating for the company in a research report on Tuesday. JPMorgan Chase & Co. lowered their price objective on adidas from €260.00 ($265.31) to €215.00 ($219.39) and set a "neutral" rating for the company in a research report on Thursday, July 7th. Berenberg Bank cut adidas from a "buy" rating to a "hold" rating in a research report on Tuesday, September 6th. DZ Bank cut adidas from a "buy" rating to a "hold" rating in a research report on Wednesday, July 20th. Finally, Cowen cut adidas from an "outperform" rating to a "market perform" rating in a research report on Friday, September 16th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $225.38.
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Hedge Funds Weigh In On adidas
A number of large investors have recently modified their holdings of the business. Castleview Partners LLC raised its stake in shares of adidas by 9,350.0% during the 2nd quarter. Castleview Partners LLC now owns 2,835 shares of the company's stock worth $32,000 after buying an additional 2,805 shares in the last quarter. Madison Asset Management LLC purchased a new position in adidas in the 2nd quarter valued at approximately $1,591,000. Boston Common Asset Management LLC increased its stake in adidas by 13.5% in the 2nd quarter. Boston Common Asset Management LLC now owns 46,118 shares of the company's stock valued at $4,068,000 after purchasing an additional 5,485 shares in the last quarter. Financial Gravity Asset Management Inc. increased its stake in adidas by 236.2% in the 2nd quarter. Financial Gravity Asset Management Inc. now owns 5,372 shares of the company's stock valued at $483,000 after purchasing an additional 3,774 shares in the last quarter. Finally, Capital Square LLC increased its stake in adidas by 36.2% in the 2nd quarter. Capital Square LLC now owns 5,165 shares of the company's stock valued at $455,000 after purchasing an additional 1,374 shares in the last quarter. 0.05% of the stock is owned by hedge funds and other institutional investors.
adidas Stock Down 1.3 %
adidas stock opened at $60.92 on Wednesday. adidas has a twelve month low of $60.22 and a twelve month high of $173.02. The stock has a 50 day moving average of $78.66 and a two-hundred day moving average of $92.18. The company has a current ratio of 1.34, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $23.77 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 1.11 and a beta of 0.93.
adidas (OTCMKTS:ADDYY – Get Rating) last issued its earnings results on Thursday, August 4th. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.10. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.67 billion. adidas had a return on equity of 16.49% and a net margin of 9.02%. As a group, research analysts expect that adidas will post 3.41 earnings per share for the current year.
About adidas
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adidas AG, together with its subsidiaries, designs, develops, distributes, and markets athletic and sports lifestyle products worldwide. It offers footwear; apparel; and accessories and gear, such as bags and balls under the adidas brand. It sells its products through approximately 2,200 own-retail stores; mono-branded franchise stores and shop-in-shops; and wholesale and its e-commerce channels.
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