Amer Sports (NYSE:AS) Shares Gap Down – Time to Sell?

Amer Sports, Inc. (NYSE:AS) gapped down prior to trading on Monday . The stock had previously closed at $19.56, but opened at $18.69. Amer Sports shares last traded at $19.09, with a volume of 840,678 shares.

Analyst Upgrades and Downgrades

AS has been the subject of a number of research reports. Wells Fargo & Company cut Amer Sports from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $17.00 to $19.00 in a report on Monday. Evercore ISI reissued an “outperform” rating and issued a $21.00 target price on shares of Amer Sports in a research report on Wednesday, August 21st. UBS Group upped their price target on Amer Sports from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a report on Tuesday, September 24th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.64.

Amer Sports Trading Down 2.7 %

The stock’s fifty day moving average price is $14.37 and its 200-day moving average price is $14.03. The company has a quick ratio of 0.81, a current ratio of 1.87 and a debt-to-equity ratio of 0.58.

Amer Sports (NYSE:AS) last released its quarterly earnings data on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.11. The firm had revenue of $993.80 million for the quarter, compared to analyst estimates of $947.59 million. Amer Sports had a negative return on equity of 0.63% and a negative net margin of 2.79%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, equities analysts forecast that Amer Sports, Inc. will post 0.43 earnings per share for the current year.

Hedge Funds Weigh In On Amer Sports

Institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC acquired a new stake in shares of Amer Sports during the 3rd quarter worth about $73,000. Dnca Finance bought a new position in Amer Sports in the 2nd quarter valued at about $81,000. Amalgamated Bank acquired a new stake in Amer Sports during the second quarter worth approximately $83,000. Artemis Investment Management LLP bought a new stake in shares of Amer Sports during the third quarter worth approximately $293,000. Finally, Summit Securities Group LLC acquired a new position in shares of Amer Sports in the second quarter valued at approximately $297,000. 40.25% of the stock is currently owned by institutional investors and hedge funds.

Amer Sports Company Profile

Amer Sports, Inc designs, manufactures, markets, distributes, and sells sports equipment, apparel, footwear, and accessories in Europe, the Middle East, Africa, the Americas, China, and the Asia Pacific. It operates through three segments: Technical Apparel, Outdoor Performance, and Ball & Racquet Sports.