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

Amer Sports, Inc. (NYSE:AS) hit a new 52-week low on Tuesday . The company traded as low as $26.92 and last traded at $26.8780, with a volume of 189694 shares traded. The stock had previously closed at $27.55.

Wall Street Analyst Weigh In

A number of analysts recently commented on AS shares. Piper Sandler restated an “overweight” rating on shares of Amer Sports in a research report on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Amer Sports in a report on Wednesday, August 19th. BTIG Research assumed coverage on Amer Sports in a report on Thursday, September 10th. They issued a “buy” rating and a $42.00 price target for the company. Morgan Stanley initiated coverage on Amer Sports in a research report on Thursday, September 10th. They set an “equal weight” rating and a $31.00 price target on the stock. Finally, UBS Group set a $42.00 price objective on Amer Sports in a report on Thursday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.92.

Amer Sports Stock Up 2.2%

The firm has a market capitalization of $15.06 billion, a P/E ratio of 28.63, a PEG ratio of 0.86 and a beta of 1.99. The firm’s 50-day moving average is $32.77 and its 200 day moving average is $34.01. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.80 and a current ratio of 1.76.

Amer Sports (NYSE:AS) last announced its earnings results on Monday, August 17th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.11. Amer Sports had a net margin of 7.35% and a return on equity of 11.18%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the business earned $0.03 EPS. The company’s revenue for the quarter was up 32.1% compared to the same quarter last year. As a group, equities research analysts predict that Amer Sports, Inc. will post 1.29 EPS for the current fiscal year.

Insider Activity

In related news, CFO Andrew Page sold 2,022 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $28.63, for a total transaction of $57,889.86. Following the completion of the transaction, the chief financial officer directly owned 6,575 shares in the company, valued at approximately $188,242.25. This trade represents a 23.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Hedge Funds Weigh In On Amer Sports

Large investors have recently bought and sold shares of the company. Junto Capital Management LP grew its stake in shares of Amer Sports by 583.8% during the 2nd quarter. Junto Capital Management LP now owns 3,099,673 shares of the company’s stock worth $104,893,000 after acquiring an additional 2,646,364 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Amer Sports by 25.8% in the second quarter. Sequoia Financial Advisors LLC now owns 62,581 shares of the company’s stock worth $2,118,000 after purchasing an additional 12,833 shares in the last quarter. Tidal Investments LLC lifted its position in shares of Amer Sports by 45.9% in the second quarter. Tidal Investments LLC now owns 12,369 shares of the company’s stock worth $419,000 after purchasing an additional 3,890 shares in the last quarter. C WorldWide Group Holding A S boosted its holdings in Amer Sports by 41.0% during the second quarter. C WorldWide Group Holding A S now owns 296,653 shares of the company’s stock worth $10,039,000 after purchasing an additional 86,327 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in Amer Sports during the second quarter worth $99,000. Institutional investors and hedge funds own 40.25% of the company’s stock.

About Amer Sports

Amer Sports, Inc (NYSE: AS) is a global sporting goods company that designs, manufactures and markets equipment, apparel, footwear and accessories for outdoor, action sports and team sports. Its products are sold through wholesale partners, company-operated stores and digital channels across North America, Europe, Asia and other international markets.

The company’s brand portfolio includes Arc’teryx, which focuses on premium outdoor apparel and equipment; Salomon, known for mountain sports footwear and equipment; Wilson, which serves tennis, pickleball, baseball, basketball and other team sports; Atomic, which specializes in skiing products; and Peak Performance and Armada, which offer outdoor and winter sports apparel and equipment.

Amer Sports traces its origins to 1950 in Finland, where it was established as Amer-Yhtymä before developing into a diversified sporting goods group.