Amer Sports (NYSE:AS) Downgraded to “Hold” Rating by Zacks Research

Zacks Research downgraded shares of Amer Sports (NYSE:AS) from a strong-buy rating to a hold rating in a research note released on Monday,Zacks.com reports.

Several other brokerages also recently issued reports on AS. Nomura set a $39.80 price objective on Amer Sports and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Morgan Stanley set a $41.00 target price on Amer Sports and gave the company a “positive” rating in a report on Monday, September 22nd. Wall Street Zen lowered shares of Amer Sports from a “buy” rating to a “hold” rating in a research report on Sunday, October 26th. Barclays assumed coverage on shares of Amer Sports in a research report on Tuesday, December 9th. They set an “overweight” rating and a $49.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft set a $49.00 price objective on shares of Amer Sports in a research note on Thursday, January 8th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $46.06.

Amer Sports Stock Down 1.7%

AS stock opened at $36.42 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.51 and a quick ratio of 0.70. The firm has a market capitalization of $20.17 billion, a P/E ratio of 66.21, a P/E/G ratio of 0.73 and a beta of 2.86. Amer Sports has a 52-week low of $20.21 and a 52-week high of $42.36. The company’s 50 day simple moving average is $36.83 and its 200-day simple moving average is $36.17.

Amer Sports (NYSE:AS) last posted its quarterly earnings data on Tuesday, November 18th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.08. Amer Sports had a net margin of 5.10% and a return on equity of 8.51%. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the business posted $0.14 EPS. The company’s revenue was up 29.7% on a year-over-year basis. Amer Sports has set its FY 2025 guidance at 0.880-0.920 EPS. As a group, equities research analysts anticipate that Amer Sports will post 0.46 EPS for the current year.

Hedge Funds Weigh In On Amer Sports

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AS. Maryland State Retirement & Pension System bought a new position in shares of Amer Sports during the 2nd quarter valued at $281,000. CHURCHILL MANAGEMENT Corp acquired a new position in Amer Sports during the second quarter worth $647,000. Fortress Investment Group LLC acquired a new position in Amer Sports during the second quarter worth $9,634,000. Jefferies Financial Group Inc. bought a new position in Amer Sports during the second quarter valued at about $5,447,000. Finally, Creative Planning raised its holdings in Amer Sports by 45.7% during the second quarter. Creative Planning now owns 74,782 shares of the company’s stock valued at $2,899,000 after buying an additional 23,450 shares in the last quarter. Institutional investors own 40.25% of the company’s stock.

About Amer Sports

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).