adidas (OTCMKTS:ADDYY) Reaches New 52-Week High – Here’s What Happened

adidas AG (OTCMKTS:ADDYY)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $136.49 and last traded at $135.82, with a volume of 25829 shares changing hands. The stock had previously closed at $132.35.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ADDYY. HSBC lowered shares of adidas from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein upgraded adidas from a “market perform” rating to an “outperform” rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, adidas presently has an average rating of “Moderate Buy”.

adidas Stock Up 2.6 %

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.78 and a current ratio of 1.32. The firm’s 50 day moving average price is $126.86 and its two-hundred day moving average price is $123.36. The company has a market cap of $48.50 billion, a P/E ratio of 104.48 and a beta of 1.19.

Hedge Funds Weigh In On adidas

An institutional investor recently bought a new position in adidas stock. Madison Investment Advisors LLC purchased a new stake in shares of adidas AG (OTCMKTS:ADDYY) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 20,010 shares of the company’s stock, valued at approximately $2,437,000.

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.