Amer Sports, Inc. (NYSE:AS) Stock Has Consensus Price Target of $44.59

Amer Sports, Inc. (NYSE:AS) has been given an average recommendation of “Moderate Buy” by the sixteen analysts that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $44.59.

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Amer Sports from $59.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Jefferies Financial Group assumed coverage on shares of Amer Sports in a research note on Tuesday, October 13th. They issued a “buy” rating and a $42.00 price objective on the stock. Barclays boosted their price objective on shares of Amer Sports from $49.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. The Goldman Sachs Group set a $43.00 target price on Amer Sports in a research note on Friday, September 18th. Finally, Citigroup restated a “buy” rating on shares of Amer Sports in a research note on Monday, September 21st.

Amer Sports Trading Down 0.7%

AS opened at $30.45 on Wednesday. The stock has a market capitalization of $16.87 billion, a price-to-earnings ratio of 24.73, a P/E/G ratio of 0.98 and a beta of 1.98. The company has a quick ratio of 0.80, a current ratio of 1.76 and a debt-to-equity ratio of 0.11. Amer Sports has a twelve month low of $26.10 and a twelve month high of $42.76. The company has a 50-day simple moving average of $28.51 and a 200 day simple moving average of $33.66.

Amer Sports (NYSE:AS) last released its earnings results on Monday, August 17th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.11 by $0.11. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. Amer Sports had a net margin of 7.35% and a return on equity of 11.18%. The business’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same period last year, the firm earned $0.03 EPS. Analysts predict that Amer Sports will post 1.30 EPS for the current fiscal year.

Insider Activity

In other news, insider Wen-Chang Chen sold 117,461 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $26.60, for a total value of $3,124,462.60. Following the completion of the transaction, the insider owned 434,855 shares of the company’s stock, valued at approximately $11,567,143. This represents a 21.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew E. Page sold 2,022 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $28.63, for a total transaction of $57,889.86. Following the completion of the sale, the chief financial officer owned 6,575 shares in the company, valued at approximately $188,242.25. The trade was a 23.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Institutional Trading of Amer Sports

A number of hedge funds have recently added to or reduced their stakes in AS. EverSource Wealth Advisors LLC lifted its stake in shares of Amer Sports by 84.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 761 shares of the company’s stock valued at $25,000 after acquiring an additional 348 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in Amer Sports by 1,030.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 814 shares of the company’s stock worth $30,000 after acquiring an additional 742 shares during the last quarter. Farther Finance Advisors LLC grew its position in Amer Sports by 45.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,718 shares of the company’s stock worth $47,000 after acquiring an additional 534 shares during the last quarter. Covestor Ltd increased its holdings in Amer Sports by 20.2% in the 3rd quarter. Covestor Ltd now owns 2,531 shares of the company’s stock worth $69,000 after purchasing an additional 426 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in Amer Sports by 31.1% in the 3rd quarter. Parallel Advisors LLC now owns 2,523 shares of the company’s stock worth $69,000 after purchasing an additional 598 shares in the last quarter. Institutional investors and hedge funds own 40.25% of the company’s stock.

Amer Sports Company Profile

Amer Sports, Inc is a global sporting and outdoor equipment company that develops, manufactures and markets apparel, footwear, equipment and accessories. Its portfolio includes internationally recognized brands such as Arc’teryx, Salomon, Wilson, Peak Performance, Atomic and ENVE.

The company organizes its business around outdoor and performance sports, including mountain sports, winter sports, trail running, hiking and other outdoor activities, as well as ball and racquet sports. Its products range from technical apparel and footwear to skis, snowboarding equipment, bicycles, tennis and padel racquets, team-sport equipment and related accessories.

Amer Sports traces its origins to Finland, where it was established in 1950, and serves consumers through wholesale and direct-to-consumer channels across North America, Europe, Asia and other international markets.