Amer Sports, Inc. (NYSE:AS) Stock Has Consensus Target Price of $44.59 According to Brokerages

Amer Sports, Inc. (NYSE:AS) has received a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $44.59.

AS has been the topic of a number of research reports. Citigroup reiterated a “buy” rating on shares of Amer Sports in a report on Monday, September 21st. UBS Group set a $38.00 price objective on Amer Sports in a research note on Monday, September 21st. Morgan Stanley initiated coverage on shares of Amer Sports in a research note on Thursday, September 10th. They set an “equal weight” rating and a $31.00 price objective for the company. Truist Financial cut their price target on Amer Sports from $50.00 to $42.00 and set a “buy” rating on the stock in a report on Wednesday, August 19th. Finally, Weiss Ratings downgraded shares of Amer Sports from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 19th.

Insider Activity at Amer Sports

In other news, CFO Andrew Page sold 2,022 shares of Amer Sports stock in a transaction on 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 sale, the chief financial officer owned 6,575 shares of the company’s stock, valued at approximately $188,242.25. This trade represents a 23.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 that occurred on 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 completion of the transaction, the insider owned 434,855 shares in the company, valued at approximately $11,567,143. The trade was a 21.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Institutional Investors Weigh In On Amer Sports

A number of hedge funds have recently bought and sold shares of the stock. Assenagon Asset Management S.A. purchased a new stake in shares of Amer Sports in the third quarter valued at $176,274,000. Temasek Holdings Private Ltd lifted its stake 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 valued at $120,657,000 after buying an additional 1,086,616 shares during the period. Junto Capital Management LP grew its position in Amer Sports by 583.8% during the 2nd quarter. Junto Capital Management LP now owns 3,099,673 shares of the company’s stock worth $104,893,000 after acquiring an additional 2,646,364 shares during the last quarter. CI Investments Inc. acquired a new position in shares of Amer Sports in the 1st quarter valued at $56,127,000. Finally, Squarepoint Ops LLC boosted its position in Amer Sports by 89.0% during the 2nd quarter. Squarepoint Ops LLC now owns 1,106,439 shares of the company’s stock worth $37,442,000 after acquiring an additional 520,888 shares during the last quarter. Institutional investors and hedge funds own 40.25% of the company’s stock.

Amer Sports Price Performance

Shares of Amer Sports stock opened at $29.41 on Wednesday. The stock has a market capitalization of $16.29 billion, a price-to-earnings ratio of 30.96, a price-to-earnings-growth ratio of 0.94 and a beta of 2.04. 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 fifty day moving average of $28.57 and a 200-day moving average of $33.72.

Amer Sports (NYSE:AS) last issued its quarterly earnings results on Monday, August 17th. The company reported $0.22 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the business posted $0.03 EPS. Amer Sports’s revenue for the quarter was up 32.1% compared to the same quarter last year. Equities research analysts expect that Amer Sports will post 1.30 EPS for the current year.

About Amer Sports

Amer Sports, Inc is a global sporting and outdoor equipment company that develops, manufactures and markets apparel, footwear, equipment and accessories. Its portfolio includes internationally recognized brands such as Arc’teryx, Salomon, Wilson, Peak Performance, Atomic and ENVE.

The company organizes its business around outdoor and performance sports, including mountain sports, winter sports, trail running, hiking and other outdoor activities, as well as ball and racquet sports. Its products range from technical apparel and footwear to skis, snowboarding equipment, bicycles, tennis and padel racquets, team-sport equipment and related accessories.

Amer Sports traces its origins to Finland, where it was established in 1950, and serves consumers through wholesale and direct-to-consumer channels across North America, Europe, Asia and other international markets.