Amer Sports, Inc. (NYSE:AS) Stock Has Consensus Target Price of $44.77

Amer Sports, Inc. (NYSE:AS) has earned an average rating of “Moderate Buy” from the fifteen analysts that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $44.77.

A number of research firms have recently issued reports on AS. Morgan Stanley initiated coverage on Amer Sports in a research report on Thursday, September 10th. They set an “equal weight” rating and a $31.00 price target on the stock. Truist Financial dropped their target price on shares of Amer Sports from $50.00 to $42.00 and set a “buy” rating on the stock in a report on Wednesday, August 19th. BTIG Research restated a “buy” rating and issued a $42.00 price target on shares of Amer Sports in a report on Friday, September 18th. JPMorgan Chase & Co. increased their price objective on shares of Amer Sports from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Finally, Piper Sandler reissued an “overweight” rating on shares of Amer Sports in a report on Wednesday, August 19th.

Insider Buying and Selling at Amer Sports

In other Amer Sports news, insider Wen-Chang Chen sold 117,461 shares of Amer Sports stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $26.60, for a total value of $3,124,462.60. Following the transaction, the insider owned 434,855 shares in the company, valued at $11,567,143. The trade was a 21.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew E. Page sold 2,022 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $28.63, for a total transaction of $57,889.86. Following the completion of the transaction, the chief financial officer owned 6,575 shares of the company’s stock, valued at $188,242.25. This represents a 23.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Institutional Trading of Amer Sports

A number of institutional investors have recently modified their holdings of AS. EverSource Wealth Advisors LLC grew its position in shares of Amer Sports by 84.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 761 shares of the company’s stock worth $25,000 after buying an additional 348 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in Amer Sports by 1,030.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 814 shares of the company’s stock valued at $30,000 after acquiring an additional 742 shares during the last quarter. Global Retirement Partners LLC lifted its position in Amer Sports by 5,600.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,824 shares of the company’s stock valued at $68,000 after acquiring an additional 1,792 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Amer Sports in the second quarter valued at approximately $99,000. Finally, PNC Financial Services Group Inc. boosted its stake in Amer Sports by 135.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,090 shares of the company’s stock valued at $102,000 after acquiring an additional 1,777 shares in the last quarter. 40.25% of the stock is currently owned by institutional investors.

Amer Sports Stock Performance

Shares of NYSE:AS opened at $27.09 on Friday. The firm’s 50 day simple moving average is $30.43 and its 200-day simple moving average is $33.23. 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 one year low of $26.10 and a one year high of $42.76. The firm has a market cap of $15.00 billion, a PE ratio of 28.52, a price-to-earnings-growth ratio of 0.88 and a beta of 2.04.

Amer Sports (NYSE:AS) last announced its quarterly 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. Amer Sports had a return on equity of 11.18% and a net margin of 7.35%.The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the business earned $0.03 earnings per share. Amer Sports’s quarterly revenue was up 32.1% on a year-over-year basis. As a group, equities analysts predict that Amer Sports will post 1.3 EPS for the current year.

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.