Amer Sports (NYSE:AS) Issues Earnings Results

Amer Sports (NYSE:AS) released its quarterly earnings results on Monday. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.11 by $0.11, FiscalAI reports. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.54 billion. Amer Sports had a return on equity of 10.29% and a net margin of 6.50%.

Amer Sports Stock Down 0.8%

Shares of NYSE AS opened at $32.60 on Tuesday. The firm has a 50-day moving average price of $34.98 and a 200 day moving average price of $35.38. The company has a quick ratio of 0.82, a current ratio of 1.66 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $18.06 billion, a price-to-earnings ratio of 40.75, a price-to-earnings-growth ratio of 1.12 and a beta of 2.05. Amer Sports has a 52 week low of $28.92 and a 52 week high of $42.76.

Insider Buying and Selling at Amer Sports

In other Amer Sports news, insider Wen-Chang (Victor) Chen sold 13,075 shares of Amer Sports stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $35.62, for a total value of $465,731.50. Following the completion of the sale, the insider directly owned 149,821 shares of the company’s stock, valued at approximately $5,336,624.02. The trade was a 8.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stuart Haselden sold 215,275 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $35.57, for a total value of $7,657,331.75. Following the completion of the transaction, the chief executive officer owned 215,275 shares of the company’s stock, valued at $7,657,331.75. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 833,580 shares of company stock worth $29,200,266.

Hedge Funds Weigh In On Amer Sports

Large investors have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC purchased a new position in shares of Amer Sports during the 4th quarter worth about $27,000. Caitong International Asset Management Co. Ltd raised its holdings in Amer Sports by 484.8% in the third quarter. Caitong International Asset Management Co. Ltd now owns 848 shares of the company’s stock valued at $29,000 after buying an additional 703 shares during the period. PNC Financial Services Group Inc. lifted its position in Amer Sports by 241.6% during the third quarter. PNC Financial Services Group Inc. now owns 1,199 shares of the company’s stock valued at $42,000 after buying an additional 848 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Amer Sports by 174.3% during the second quarter. Smartleaf Asset Management LLC now owns 1,591 shares of the company’s stock worth $63,000 after buying an additional 1,011 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Amer Sports in the fourth quarter worth $84,000. 40.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AS. Robert W. Baird set a $51.00 price target on shares of Amer Sports in a research note on Wednesday, May 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Amer Sports in a research note on Friday, July 24th. UBS Group lifted their price objective on shares of Amer Sports from $60.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft set a $52.00 target price on shares of Amer Sports in a research note on Wednesday, May 20th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Amer Sports from $59.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $49.70.

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).