Amer Sports (NYSE:AS) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of Amer Sports (NYSE:AS) in a report released on Tuesday, Marketbeat.com reports. The brokerage issued an overweight rating and a $46.00 price target on the stock.

AS has been the topic of a number of other reports. Jefferies Financial Group initiated coverage on Amer Sports in a research note on Tuesday, October 13th. They set a “buy” rating and a $42.00 price objective on the stock. Weiss Ratings downgraded Amer Sports from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 19th. Citigroup reaffirmed a “buy” rating on shares of Amer Sports in a report on Monday, September 21st. Barclays lifted their target price on Amer Sports from $49.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. Finally, Wells Fargo & Company decreased their price target on Amer Sports from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.67.

Amer Sports Stock Down 3.1%

Amer Sports stock opened at $30.12 on Tuesday. Amer Sports has a 1-year low of $26.10 and a 1-year high of $42.76. The firm has a market capitalization of $16.68 billion, a price-to-earnings ratio of 25.07, a P/E/G ratio of 0.99 and a beta of 1.98. The company has a current ratio of 1.76, a quick ratio of 0.80 and a debt-to-equity ratio of 0.11. The firm has a 50 day simple moving average of $28.67 and a 200 day simple moving average of $33.46.

Amer Sports (NYSE:AS) last issued its earnings results 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. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Amer Sports had a net margin of 7.35% and a return on equity of 11.18%. During the same quarter in the previous year, the firm posted $0.03 EPS. The business’s revenue for the quarter was up 32.1% compared to the same quarter last year. On average, analysts predict that Amer Sports will post 1.30 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Andrew Page sold 2,022 shares of the company’s 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 transaction, the chief financial officer owned 6,575 shares of the company’s stock, valued at approximately $188,242.25. This represents a 23.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 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 completion of the transaction, the insider directly owned 434,855 shares in the company, valued at approximately $11,567,143. The trade was a 21.27% decrease in their position. The SEC filing for this sale provides additional information.

Hedge Funds Weigh In On Amer Sports

A number of institutional investors have recently added to or reduced their stakes in AS. Assenagon Asset Management S.A. bought a new stake in shares of Amer Sports during the 3rd quarter valued at about $176,274,000. Temasek Holdings Private Ltd increased its position in shares of Amer Sports by 42.1% in the first quarter. Temasek Holdings Private Ltd now owns 3,665,157 shares of the company’s stock worth $120,657,000 after purchasing an additional 1,086,616 shares during the last quarter. Junto Capital Management LP increased its position in shares of Amer Sports by 583.8% in the second quarter. Junto Capital Management LP now owns 3,099,673 shares of the company’s stock worth $104,893,000 after purchasing an additional 2,646,364 shares during the last quarter. CI Investments Inc. purchased a new stake in Amer Sports in the first quarter valued at approximately $56,127,000. Finally, Pictet Asset Management Holding SA raised its stake in Amer Sports by 85.1% in the third quarter. Pictet Asset Management Holding SA now owns 1,672,178 shares of the company’s stock valued at $45,634,000 after purchasing an additional 768,668 shares in the last quarter. 40.25% of the stock is currently owned by institutional investors.

Amer Sports Company Profile

Amer Sports is a global sporting goods company whose portfolio includes Arc’teryx, Salomon, Wilson, Atomic, Peak Performance and other brands. Its products span technical apparel and footwear, outdoor and winter sports equipment, and gear for sports such as tennis, baseball and basketball. The company serves consumers and athletes in markets around the world through its brands’ retail, wholesale and direct-to-consumer channels. Its operations are organized around technical apparel, outdoor performance, and ball and racquet sports.