Amer Sports (NYSE:AS) Stock Price Down 5.1% – Here’s Why

Amer Sports, Inc. (NYSE:AS)’s stock price dropped 5.1% on Tuesday . The company traded as low as $34.24 and last traded at $34.4980. 2,938,442 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 4,387,364 shares. The stock had previously closed at $36.34.

Analyst Ratings Changes

A number of brokerages have commented on AS. Truist Financial increased their price target on shares of Amer Sports from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. Weiss Ratings upgraded shares of Amer Sports from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, April 27th. Robert W. Baird set a $51.00 price objective on shares of Amer Sports in a research note on Wednesday, May 20th. UBS Group increased their target price on shares of Amer Sports from $60.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft set a $52.00 target price on shares of Amer Sports in a research report on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $48.70.

Amer Sports Price Performance

The firm has a fifty day moving average of $34.87 and a two-hundred day moving average of $35.75. The company has a current ratio of 1.66, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $19.01 billion, a PE ratio of 42.91, a PEG ratio of 1.27 and a beta of 2.07.

Amer Sports (NYSE:AS) last announced its quarterly earnings results on Tuesday, May 19th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.07. Amer Sports had a return on equity of 10.29% and a net margin of 6.50%.The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the previous year, the firm earned $0.27 EPS. The business’s quarterly revenue was up 32.1% on a year-over-year basis. Amer Sports has set its FY 2026 guidance at 1.180-1.230 EPS. Research analysts anticipate that Amer Sports, Inc. will post 1.22 EPS for the current fiscal year.

Insider Activity

In related news, insider Wen-Chang (Victor) Chen sold 13,075 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $35.62, for a total transaction of $465,731.50. Following the completion of the sale, the insider directly owned 149,821 shares in the company, valued at $5,336,624.02. This represents a 8.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Stuart Haselden sold 215,275 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $35.57, for a total transaction of $7,657,331.75. Following the sale, the chief executive officer directly owned 215,275 shares of the company’s stock, valued at $7,657,331.75. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 833,580 shares of company stock worth $29,200,266 over the last ninety days.

Hedge Funds Weigh In On Amer Sports

Hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC bought a new stake in shares of Amer Sports in the first quarter worth about $565,000. Goldman Sachs Group Inc. increased its holdings in Amer Sports by 44.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,173,674 shares of the company’s stock valued at $31,372,000 after purchasing an additional 358,536 shares during the period. Legal & General Group Plc raised its position in Amer Sports by 103.2% during the 2nd quarter. Legal & General Group Plc now owns 16,404 shares of the company’s stock valued at $636,000 after purchasing an additional 8,330 shares during the last quarter. American Century Companies Inc. bought a new position in Amer Sports during the 2nd quarter valued at approximately $472,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Amer Sports by 276.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,364 shares of the company’s stock worth $130,000 after buying an additional 2,470 shares during the period. 40.25% of the stock is owned by institutional investors.

Amer Sports Company Profile

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).