Truist Financial Cuts Amer Sports (NYSE:AS) Price Target to $42.00

Amer Sports (NYSE:AS) had its price target trimmed by Truist Financial from $50.00 to $42.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the stock. UBS Group boosted their target price on shares of Amer Sports from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. JPMorgan Chase & Co. lifted their price target on shares of Amer Sports from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft set a $52.00 price target on shares of Amer Sports in a research note on Wednesday, May 20th. Piper Sandler reissued an “overweight” rating and set a $45.00 price objective on shares of Amer Sports in a research report on Monday, July 27th. Finally, Robert W. Baird set a $51.00 price objective on shares of Amer Sports in a research report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $49.20.

Amer Sports Trading Up 0.1%

NYSE AS opened at $32.57 on Wednesday. The stock has a market capitalization of $18.04 billion, a P/E ratio of 34.28, a P/E/G ratio of 1.04 and a beta of 2.05. The business has a 50 day simple moving average of $34.85 and a 200 day simple moving average of $35.29. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.76 and a quick ratio of 0.82. Amer Sports has a one year low of $28.92 and a one year high of $42.76.

Amer Sports (NYSE:AS) last issued its quarterly earnings results on Tuesday, August 18th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.11. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. Amer Sports had a return on equity of 11.18% and a net margin of 7.35%.The company’s revenue was up 32.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.03 earnings per share. Amer Sports has set its FY 2026 guidance at 1.270-1.300 EPS and its Q3 2026 guidance at 0.310-0.330 EPS. Research analysts expect that Amer Sports will post 1.29 earnings per share for the current year.

Insider Buying and Selling at Amer Sports

In related news, CEO Stuart Haselden sold 215,275 shares of Amer Sports stock in a transaction on Monday, June 1st. The shares were sold at an average price of $35.57, for a total value of $7,657,331.75. Following the completion of the sale, the chief executive officer owned 215,275 shares of the company’s stock, valued at approximately $7,657,331.75. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jie (James) Zheng sold 500,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $34.42, for a total transaction of $17,210,000.00. Following the sale, the chief executive officer owned 1,262,385 shares of the company’s stock, valued at $43,451,291.70. This trade represents a 28.37% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 833,580 shares of company stock worth $29,200,266.

Institutional Investors Weigh In On Amer Sports

Several hedge funds and other institutional investors have recently made changes to their positions in AS. Artisan Partners Limited Partnership raised its holdings in shares of Amer Sports by 1,306.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 5,214,439 shares of the company’s stock worth $194,759,000 after acquiring an additional 4,843,742 shares during the last quarter. Scopus Asset Management L.P. acquired a new position in Amer Sports during the 2nd quarter valued at about $108,562,000. Viking Global Investors LP increased its holdings in Amer Sports by 63.5% during the 3rd quarter. Viking Global Investors LP now owns 6,343,481 shares of the company’s stock worth $220,436,000 after purchasing an additional 2,462,832 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Amer Sports during the 2nd quarter worth approximately $87,287,000. Finally, Squarepoint Ops LLC raised its stake in shares of Amer Sports by 5,847.1% in the fourth quarter. Squarepoint Ops LLC now owns 1,986,102 shares of the company’s stock worth $74,181,000 after purchasing an additional 1,952,706 shares during the last quarter. 40.25% of the stock is owned by institutional investors.

About Amer Sports

Amer Sports (NYSE:AS) is a Helsinki-based sporting goods group that designs, develops and markets performance-oriented equipment, apparel and footwear across multiple sports. The company focuses on product innovation, brand-driven marketing and global distribution to serve athletes and outdoor enthusiasts, offering goods for activities such as skiing, running, hiking, tennis, golf and diving.

Amer Sports’ portfolio comprises well-known sports and outdoor brands, including Salomon (outdoor footwear and winter sports), Atomic (alpine skis and ski equipment), Arc’teryx (technical outerwear and climbing gear), Wilson (racquet and ball sports equipment) and Suunto (precision instruments and sports watches).