adidas (OTCMKTS:ADDYY) Share Price Crosses Below 50 Day Moving Average – Here’s Why

adidas AG (OTCMKTS:ADDYY)’s stock price passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $128.98 and traded as low as $120.95. adidas shares last traded at $122.14, with a volume of 36,081 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Sanford C. Bernstein raised shares of adidas from a “market perform” rating to an “outperform” rating in a research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

adidas Trading Up 1.1 %

The firm’s fifty day moving average is $128.92 and its 200-day moving average is $124.51. The firm has a market cap of $44.08 billion, a price-to-earnings ratio of 94.95 and a beta of 1.18. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.78.

Institutional Investors Weigh In On adidas

A number of large investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in adidas by 13.3% in the fourth quarter. GAMMA Investing LLC now owns 897 shares of the company’s stock worth $109,000 after buying an additional 105 shares during the last quarter. Madison Investment Advisors LLC purchased a new stake in shares of adidas during the fourth quarter valued at approximately $2,437,000. Finally, Mar Vista Investment Partners LLC grew its holdings in shares of adidas by 2.6% during the fourth quarter. Mar Vista Investment Partners LLC now owns 29,199 shares of the company’s stock valued at $3,556,000 after buying an additional 731 shares during the last quarter.

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.