Amer Sports (NYSE:AS) Sets New 52-Week High – Here’s What Happened

Amer Sports, Inc. (NYSE:AS)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $29.60 and last traded at $29.43, with a volume of 1247170 shares trading hands. The stock had previously closed at $28.85.

Analyst Upgrades and Downgrades

AS has been the topic of several recent research reports. UBS Group boosted their price target on Amer Sports from $27.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Nomura Securities raised Amer Sports to a “strong-buy” rating in a report on Tuesday, September 24th. TD Cowen increased their price target on Amer Sports from $23.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, December 9th. HSBC downgraded Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a report on Monday, December 16th. Finally, Morgan Stanley increased their price target on Amer Sports from $15.00 to $19.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.14.

Amer Sports Trading Up 2.5 %

The firm has a market cap of $16.16 billion and a PE ratio of -211.27. The business has a 50-day moving average price of $23.90 and a two-hundred day moving average price of $17.41. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. FMR LLC boosted its stake in shares of Amer Sports by 71.2% during the third quarter. FMR LLC now owns 7,533,007 shares of the company’s stock valued at $120,151,000 after acquiring an additional 3,133,312 shares during the last quarter. Point72 Hong Kong Ltd boosted its stake in shares of Amer Sports by 557.7% during 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 during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of 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 valued at $39,045,000 after acquiring an additional 2,345,420 shares during the last quarter. Hood River Capital Management LLC boosted its stake in shares of Amer Sports by 32.9% during the second quarter. Hood River Capital Management LLC now owns 3,896,784 shares of the company’s stock valued at $48,983,000 after acquiring an additional 965,625 shares during the last quarter. Finally, Woodson Capital Management LP acquired a new position in Amer Sports in the 3rd quarter valued at $12,907,000. Hedge funds and other institutional investors 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.