Jefferies Financial Group Begins Coverage on Amer Sports (NYSE:AS)

Analysts at Jefferies Financial Group began coverage on shares of Amer Sports (NYSE:AS) in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm set a “buy” rating and a $42.00 price target on the stock. Jefferies Financial Group’s price objective would indicate a potential upside of 41.15% from the stock’s current price.

Several other equities research analysts have also recently commented on AS. UBS Group set a $38.00 price target on Amer Sports in a report on Monday, September 21st. JPMorgan Chase & Co. raised their target price on Amer Sports from $59.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. BMO Capital Markets reissued an “outperform” rating on shares of Amer Sports in a research note on Monday, September 21st. Citigroup reissued a “buy” rating on shares of Amer Sports in a research note on Monday, September 21st. Finally, Wells Fargo & Company cut their target price on Amer Sports from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, September 18th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Amer Sports presently has an average rating of “Moderate Buy” and a consensus target price of $44.59.

Amer Sports Price Performance

Shares of NYSE:AS traded up $0.94 during midday trading on Tuesday, hitting $29.76. The company had a trading volume of 288,501 shares, compared to its average volume of 5,046,505. Amer Sports has a twelve month low of $26.10 and a twelve month high of $42.76. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.76 and a quick ratio of 0.80. The stock has a market cap of $16.48 billion, a price-to-earnings ratio of 31.30, a price-to-earnings-growth ratio of 0.93 and a beta of 2.04. The business’s 50-day simple moving average is $29.65 and its 200-day simple moving average is $33.09.

Amer Sports (NYSE:AS) last posted its quarterly earnings results on Monday, August 17th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.11 by $0.11. Amer Sports had a return on equity of 11.18% and a net margin of 7.35%. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the firm earned $0.03 earnings per share. The business’s revenue for the quarter was up 32.1% on a year-over-year basis. On average, research analysts predict that Amer Sports will post 1.30 earnings per share for the current year.

Insider Transactions at Amer Sports

In other Amer Sports news, CFO Andrew E. Page sold 2,022 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $28.63, for a total value of $57,889.86. Following the transaction, the chief financial officer owned 6,575 shares of the company’s stock, valued at $188,242.25. This represents a 23.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Wen-Chang Chen sold 117,461 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $26.60, for a total transaction of $3,124,462.60. Following the completion of the transaction, the insider directly owned 434,855 shares in the company, valued at $11,567,143. The trade was a 21.27% decrease in their position. The SEC filing for this sale provides additional information.

Institutional Investors Weigh In On Amer Sports

Institutional investors have recently modified their holdings of the company. C WorldWide Group Holding A S grew its stake in shares of Amer Sports by 41.0% in the second quarter. C WorldWide Group Holding A S now owns 296,653 shares of the company’s stock valued at $10,039,000 after buying an additional 86,327 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Amer Sports in the first quarter valued at $4,305,000. Capricorn Fund Managers Ltd grew its stake in shares of Amer Sports by 711.4% in the first quarter. Capricorn Fund Managers Ltd now owns 185,000 shares of the company’s stock valued at $6,090,000 after buying an additional 162,200 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of Amer Sports by 89.0% in the second quarter. Squarepoint Ops LLC now owns 1,106,439 shares of the company’s stock valued at $37,442,000 after buying an additional 520,888 shares in the last quarter. Finally, Siren L.L.C. purchased a new position in Amer Sports in the first quarter valued at $1,646,000. 40.25% of the stock is owned by institutional investors and hedge funds.

Amer Sports Company Profile

Amer Sports, Inc (NYSE: AS) is a global sporting and outdoor goods company that develops, manufactures and markets equipment, apparel, footwear and accessories for consumers and athletes. Its portfolio spans outdoor, winter sports, racquet sports and fitness categories, with products sold through wholesale partners, company-operated stores and digital channels.

The company’s brand portfolio includes Arc’teryx, known for technical outdoor apparel and equipment; Salomon, which offers trail-running, hiking and winter-sports products; Wilson, a manufacturer of tennis, padel, baseball, basketball and other sporting equipment; Atomic and Armada, which focus on snow sports; and Peak Performance, an outdoor and ski apparel brand.

Amer Sports serves customers internationally across North America, Europe, Asia and other global markets.