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

Amer Sports, Inc. (NYSE:AS) reached a new 52-week high during trading on Monday . The company 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

A number of brokerages have issued reports on AS. Citigroup raised their target price on Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company downgraded shares of Amer Sports from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $17.00 to $19.00 in a research note on Monday, October 14th. Evercore ISI reissued an “outperform” rating and issued a $21.00 price target on shares of Amer Sports in a report on Wednesday, August 21st. UBS Group raised their price objective on Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Nomura Securities raised Amer Sports to a “strong-buy” rating in a research note 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 given a strong buy rating to the stock. According to data from MarketBeat, Amer Sports currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.57.

Amer Sports Trading Down 3.0 %

The company has a quick ratio of 0.81, a current ratio of 1.87 and a debt-to-equity ratio of 0.58. The stock’s fifty day moving average price is $16.86 and its 200-day moving average price is $14.59.

Amer Sports (NYSE:AS) last posted its quarterly earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. Amer Sports had a negative return on equity of 0.63% and a negative net margin of 2.79%. The business had revenue of $993.80 million for the quarter, compared to analysts’ expectations of $947.59 million. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, equities analysts forecast that Amer Sports, Inc. will post 0.44 earnings per share for the current year.

Hedge Funds Weigh In On Amer Sports

Institutional investors and hedge funds have recently made changes to their positions in the company. Hood River Capital Management LLC bought a new stake in Amer Sports in the 1st quarter valued at $47,778,000. Point72 Hong Kong Ltd grew its stake in shares of Amer Sports by 557.7% in the second quarter. Point72 Hong Kong Ltd now owns 3,274,519 shares of the company’s stock valued at $41,161,000 after acquiring an additional 2,776,619 shares in the last quarter. Point72 Asset Management L.P. increased its position in Amer Sports by 308.3% during the second quarter. Point72 Asset Management L.P. now owns 3,106,202 shares of the company’s stock worth $39,045,000 after acquiring an additional 2,345,420 shares during the period. WT Asset Management Ltd increased its position in Amer Sports by 104.4% during the third quarter. WT Asset Management Ltd now owns 1,251,181 shares of the company’s stock worth $19,956,000 after acquiring an additional 638,939 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Amer Sports in the 1st quarter valued at about $5,705,000. Institutional investors and hedge funds own 40.25% of the company’s stock.

About Amer Sports

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.