Amer Sports (NYSE:AS) Hits New 12-Month High – Here’s Why

Amer Sports, Inc. (NYSE:AS)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $19.79 and last traded at $19.79, with a volume of 6502 shares changing hands. The stock had previously closed at $19.37.

Analyst Ratings Changes

AS has been the topic of several recent research reports. The Goldman Sachs Group lifted their price objective on Amer Sports from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Citigroup lifted their price target on shares of Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday. UBS Group increased their price objective on shares of Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Wells Fargo & Company downgraded shares of Amer Sports from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $17.00 to $19.00 in a report on Monday, October 14th. Finally, TD Cowen upped their target price on shares of Amer Sports from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Amer Sports has an average rating of “Moderate Buy” and an average price target of $19.57.

Amer Sports Price Performance

The stock has a 50 day moving average price of $16.86 and a two-hundred day moving average price of $14.59. 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 posted its quarterly earnings data on Tuesday, August 20th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.11. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The firm had revenue of $993.80 million during the quarter, compared to analysts’ expectations of $947.59 million. The business’s revenue was up 16.0% compared to the same quarter last year. Equities analysts anticipate that Amer Sports, Inc. will post 0.44 earnings per share for the current year.

Institutional Investors Weigh In On Amer Sports

Hedge funds and other institutional investors have recently made changes to their positions in the company. Signaturefd LLC acquired a new stake in Amer Sports in the third quarter worth about $49,000. CWM LLC acquired a new stake in shares of Amer Sports during the 3rd quarter worth approximately $73,000. Dnca Finance bought a new stake in shares of Amer Sports during the second quarter worth approximately $81,000. Amalgamated Bank bought a new stake in shares of Amer Sports during the second quarter worth approximately $83,000. Finally, Sei Investments Co. lifted its holdings in Amer Sports by 23.1% in the second quarter. Sei Investments Co. now owns 73,141 shares of the company’s stock valued at $919,000 after buying an additional 13,748 shares during the period. 40.25% of the stock is 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.