Amer Sports (NYSE:AS) Stock Price Down 4.8%

Amer Sports, Inc. (NYSE:AS) shares traded down 4.8% during trading on Monday . The company traded as low as $11.37 and last traded at $11.42. 1,524,883 shares were traded during trading, a decline of 6% from the average session volume of 1,628,680 shares. The stock had previously closed at $11.99.

Analysts Set New Price Targets

A number of brokerages have commented on AS. Wells Fargo & Company dropped their target price on shares of Amer Sports from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $16.00 target price (down from $18.50) on shares of Amer Sports in a research report on Monday, April 8th. Finally, Morgan Stanley dropped their price target on Amer Sports from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 23rd. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Amer Sports presently has a consensus rating of “Moderate Buy” and an average price target of $18.79.

Amer Sports Price Performance

The stock’s fifty day moving average is $14.30. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 0.97.

Amer Sports (NYSE:AS) last posted its earnings results on Tuesday, May 21st. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Amer Sports’s quarterly revenue was up 12.6% on a year-over-year basis. Equities research analysts predict that Amer Sports, Inc. will post 0.4 EPS for the current fiscal year.

Institutional Trading of Amer Sports

Institutional investors have recently made changes to their positions in the company. Hood River Capital Management LLC purchased a new stake in shares of Amer Sports in the first quarter valued at approximately $47,778,000. Capstone Investment Advisors LLC purchased a new stake in Amer Sports in the 1st quarter valued at $7,301,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Amer Sports during the 1st quarter worth $5,705,000. Value Star Asset Management Hong Kong Ltd acquired a new position in shares of Amer Sports during the 1st quarter valued at about $2,061,000. Finally, Seven Grand Managers LLC purchased a new stake in shares of Amer Sports in the first quarter valued at about $1,630,000. 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.