Amer Sports (NYSE:AS) Hits New 12-Month High – What’s Next?

Amer Sports, Inc. (NYSE:AS) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $42.76 and last traded at $42.0990, with a volume of 1334946 shares trading hands. The stock had previously closed at $41.51.

Analyst Ratings Changes

Several analysts recently weighed in on AS shares. Citigroup reiterated a “buy” rating on shares of Amer Sports in a research report on Thursday, October 30th. Truist Financial set a $46.00 price target on Amer Sports in a report on Wednesday, January 14th. Wells Fargo & Company boosted their price objective on Amer Sports from $40.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Deutsche Bank Aktiengesellschaft set a $49.00 price objective on Amer Sports in a report on Thursday, January 8th. Finally, Barclays began coverage on Amer Sports in a research note on Tuesday, December 9th. They set an “overweight” rating and a $49.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $46.89.

Amer Sports Price Performance

The company has a 50 day moving average of $38.05 and a two-hundred day moving average of $36.20. The firm has a market cap of $23.20 billion, a P/E ratio of 76.19, a PEG ratio of 0.81 and a beta of 2.86. The company has a quick ratio of 0.70, a current ratio of 1.51 and a debt-to-equity ratio of 0.24.

Amer Sports (NYSE:AS) last issued its quarterly earnings results on Tuesday, November 18th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.08. Amer Sports had a net margin of 5.10% and a return on equity of 8.51%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the company earned $0.14 EPS. Amer Sports’s revenue was up 29.7% on a year-over-year basis. Sell-side analysts expect that Amer Sports, Inc. will post 0.46 EPS for the current year.

Institutional Investors Weigh In On Amer Sports

A number of institutional investors and hedge funds have recently modified their holdings of AS. Kestra Advisory Services LLC acquired a new stake in shares of Amer Sports during the fourth quarter worth $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Amer Sports by 484.8% during the 3rd 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 last quarter. SBI Securities Co. Ltd. grew its position in Amer Sports by 146.4% in the second quarter. SBI Securities Co. Ltd. now owns 897 shares of the company’s stock worth $35,000 after acquiring an additional 533 shares in the last quarter. Financial Consulate Inc. bought a new stake in Amer Sports in the third quarter worth $40,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Amer Sports by 241.6% in the third quarter. PNC Financial Services Group Inc. now owns 1,199 shares of the company’s stock worth $42,000 after buying an additional 848 shares during the last quarter. Institutional investors and hedge funds own 40.25% of the company’s stock.

Amer Sports Company Profile

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).