Amer Sports (NYSE:AS) Hits New 1-Year Low After Analyst Downgrade

Amer Sports, Inc. (NYSE:AS) hit a new 52-week low during trading on Monday after Wells Fargo & Company lowered their price target on the stock from $45.00 to $40.00. Wells Fargo & Company currently has an overweight rating on the stock. Amer Sports traded as low as $26.10 and last traded at $27.30, with a volume of 11787888 shares changing hands. The stock had previously closed at $26.73.

A number of other research analysts have also weighed in on the stock. Truist Financial decreased their target price on shares of Amer Sports from $50.00 to $42.00 and set a “buy” rating on the stock in a research note on Wednesday, August 19th. Piper Sandler reiterated an “overweight” rating on shares of Amer Sports in a research report on Wednesday, August 19th. Morgan Stanley started coverage on Amer Sports in a report on Thursday, September 10th. They issued an “equal weight” rating and a $31.00 target price for the company. Weiss Ratings lowered Amer Sports from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 19th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Amer Sports in a research report on Wednesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $45.06.

Insider Transactions at Amer Sports

In other Amer Sports news, CFO Andrew E. Page sold 2,022 shares of the company’s 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 sale, the chief financial officer owned 6,575 shares in the company, valued at $188,242.25. This represents a 23.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Wen-Chang Chen sold 117,461 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $26.60, for a total transaction of $3,124,462.60. Following the sale, the insider owned 434,855 shares in the company, valued at $11,567,143. The trade was a 21.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its holdings in Amer Sports by 84.3% in the first quarter. EverSource Wealth Advisors LLC now owns 761 shares of the company’s stock valued at $25,000 after purchasing an additional 348 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of Amer Sports by 1,030.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 814 shares of the company’s stock valued at $30,000 after buying an additional 742 shares in the last quarter. Global Retirement Partners LLC raised its stake in Amer Sports by 5,600.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,824 shares of the company’s stock worth $68,000 after acquiring an additional 1,792 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Amer Sports during the 2nd quarter worth $99,000. Finally, PNC Financial Services Group Inc. lifted its position in Amer Sports by 135.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,090 shares of the company’s stock valued at $102,000 after acquiring an additional 1,777 shares during the last quarter. 40.25% of the stock is owned by institutional investors and hedge funds.

Amer Sports Trading Up 1.4%

The company has a quick ratio of 0.80, a current ratio of 1.76 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $15.01 billion, a PE ratio of 28.74, a PEG ratio of 0.85 and a beta of 1.99. The business’s 50-day moving average is $32.45 and its two-hundred day moving average is $33.85.

Amer Sports (NYSE:AS) last posted its earnings results on Monday, August 17th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.11. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Amer Sports had a return on equity of 11.18% and a net margin of 7.35%.The business’s revenue was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.03 earnings per share. On average, analysts anticipate that Amer Sports, Inc. will post 1.3 earnings per share for the current fiscal year.

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.