Amer Sports (NYSE:AS) Stock Price Up 6.1% – What’s Next?

Amer Sports, Inc. (NYSE:AS) shares rose 6.1% during mid-day trading on Monday . The company traded as high as $19.03 and last traded at $18.91. Approximately 413,234 shares were traded during trading, a decline of 75% from the average daily volume of 1,658,372 shares. The stock had previously closed at $17.82.

Analyst Ratings Changes

AS has been the subject of a number of analyst reports. UBS Group boosted their price objective on shares of Amer Sports from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Wells Fargo & Company downgraded shares of Amer Sports from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $17.00 to $19.00 in a report on Monday, October 14th. Evercore ISI restated an “outperform” rating and issued a $21.00 target price on shares of Amer Sports in a report on Wednesday, August 21st. Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, TD Cowen boosted their price objective on shares of Amer Sports from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.86.

Amer Sports Stock Performance

The stock’s 50-day moving average price is $16.23 and its 200-day moving average price is $14.37. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.87 and a quick ratio of 0.81.

Amer Sports (NYSE:AS) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.11. The firm had revenue of $993.80 million for the quarter, compared to the consensus estimate of $947.59 million. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. On average, research analysts expect that Amer Sports, Inc. will post 0.44 earnings per share for the current year.

Hedge Funds Weigh In On Amer Sports

Large investors have recently bought and sold shares of the stock. Signaturefd LLC acquired a new position in shares of Amer Sports in the 3rd quarter worth approximately $49,000. CWM LLC acquired a new position in shares of Amer Sports in the 3rd quarter worth approximately $73,000. Dnca Finance acquired a new position in shares of Amer Sports in the 2nd quarter worth approximately $81,000. Amalgamated Bank acquired a new position in shares of Amer Sports in the 2nd quarter worth approximately $83,000. Finally, Artemis Investment Management LLP acquired a new position in shares of Amer Sports in the 3rd quarter worth approximately $293,000. Institutional investors and hedge funds own 40.25% of the company’s stock.

About Amer Sports

Amer Sports, Inc designs, manufactures, markets, distributes, and sells sports equipment, apparel, footwear, and accessories in Europe, the Middle East, Africa, the Americas, China, and the Asia Pacific. It operates through three segments: Technical Apparel, Outdoor Performance, and Ball & Racquet Sports.