Amer Sports (NYSE:AS) Reaches New 1-Year High – What’s Next?

Amer Sports, Inc. (NYSE:AS) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $20.79 and last traded at $20.01, with a volume of 692086 shares trading hands. The stock had previously closed at $19.54.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wells Fargo & Company downgraded shares of Amer Sports from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $17.00 to $19.00 in a report on Monday, October 14th. Nomura Securities raised shares of Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. The Goldman Sachs Group upped their target price on Amer Sports from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, October 21st. UBS Group raised their price target on Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, TD Cowen upped their price objective on Amer Sports from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.57.

Amer Sports Price Performance

The firm has a fifty day simple moving average of $17.33 and a 200 day simple moving average of $14.73. 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 released its earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $947.59 million. Amer Sports’s revenue was up 16.0% on a year-over-year basis. As a group, sell-side analysts forecast that Amer Sports, Inc. will post 0.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AS. Signaturefd LLC purchased a new position in shares of Amer Sports in the 3rd quarter worth about $49,000. Quarry LP purchased a new position in Amer Sports in the third quarter valued at approximately $61,000. CWM LLC acquired a new position in Amer Sports during the third quarter valued at approximately $73,000. Dnca Finance purchased a new stake in Amer Sports during the second quarter worth approximately $81,000. Finally, Amalgamated Bank purchased a new position in shares of Amer Sports in the 2nd quarter valued at $83,000. Institutional investors and hedge funds own 40.25% of the company’s stock.

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.