Amer Sports, Inc. (NYSE:AS) Stock Has Average Target Price of $44.77 According to Brokerages

Amer Sports, Inc. (NYSE:AS) has received a consensus rating of “Moderate Buy” from the fifteen brokerages that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $44.77.

AS has been the subject of several recent analyst reports. UBS Group set a $38.00 price target on Amer Sports in a report on Monday, September 21st. Truist Financial lowered their price target 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 note on Wednesday, August 19th. BMO Capital Markets restated an “outperform” rating on shares of Amer Sports in a research note on Monday, September 21st. Finally, Wells Fargo & Company cut their target price on shares of Amer Sports from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, September 18th.

Amer Sports Stock Up 1.0%

NYSE:AS opened at $27.44 on Friday. 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 has a 52-week low of $26.10 and a 52-week high of $42.76. The company has a market cap of $15.20 billion, a price-to-earnings ratio of 28.89, a P/E/G ratio of 0.86 and a beta of 2.04. The stock’s fifty day moving average price is $30.77 and its two-hundred day moving average price is $33.31.

Amer Sports (NYSE:AS) last announced its quarterly earnings data on Monday, August 17th. The company reported $0.22 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the firm earned $0.03 earnings per share. The business’s revenue for the quarter was up 32.1% on a year-over-year basis. On average, analysts anticipate that Amer Sports will post 1.3 EPS for the current year.

Insiders Place Their Bets

In other Amer Sports news, insider Wen-Chang Chen sold 117,461 shares of the firm’s 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 transaction, the insider directly owned 434,855 shares of the company’s stock, valued at $11,567,143. This trade represents a 21.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew E. Page sold 2,022 shares of Amer Sports stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $28.63, for a total value of $57,889.86. Following the completion of the transaction, 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 position. 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.

Hedge Funds Weigh In On Amer Sports

Several institutional investors and hedge funds have recently added to or reduced their stakes in AS. EverSource Wealth Advisors LLC increased its holdings in shares of Amer Sports by 84.3% during the first quarter. EverSource Wealth Advisors LLC now owns 761 shares of the company’s stock worth $25,000 after buying an additional 348 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Amer Sports by 1,030.6% in the fourth 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 period. Global Retirement Partners LLC boosted its stake in shares of Amer Sports by 5,600.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,824 shares of the company’s stock valued at $68,000 after purchasing an additional 1,792 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Amer Sports during the second quarter valued at $99,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Amer Sports by 135.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,090 shares of the company’s stock valued at $102,000 after purchasing an additional 1,777 shares in the last quarter. Institutional investors own 40.25% of the company’s stock.

Amer Sports Company Profile

Amer Sports, Inc (NYSE: AS) is a global sporting and outdoor goods company that develops, manufactures and markets equipment, apparel, footwear and accessories for consumers and athletes. Its portfolio spans outdoor, winter sports, racquet sports and fitness categories, with products sold through wholesale partners, company-operated stores and digital channels.

The company’s brand portfolio includes Arc’teryx, known for technical outdoor apparel and equipment; Salomon, which offers trail-running, hiking and winter-sports products; Wilson, a manufacturer of tennis, padel, baseball, basketball and other sporting equipment; Atomic and Armada, which focus on snow sports; and Peak Performance, an outdoor and ski apparel brand.

Amer Sports serves customers internationally across North America, Europe, Asia and other global markets.