Amer Sports (NYSE:AS) Shares Gap Down – Here’s What Happened

Amer Sports, Inc. (NYSE:AS)’s share price gapped down before the market opened on Monday . The stock had previously closed at $19.56, but opened at $18.69. Amer Sports shares last traded at $19.09, with a volume of 840,678 shares.

Analysts Set New Price Targets

AS has been the subject of several recent analyst reports. Nomura Securities raised shares of Amer Sports to a “strong-buy” rating in a report on Tuesday, September 24th. Evercore ISI reiterated an “outperform” rating and issued a $21.00 price objective on shares of Amer Sports in a research report on Wednesday, August 21st. UBS Group boosted their price objective on Amer Sports from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company lowered Amer Sports from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $17.00 to $19.00 in a research note on Monday. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.64.

Amer Sports Price Performance

The firm’s 50-day simple moving average is $14.37 and its 200 day simple moving average is $14.03. The company has a current ratio of 1.87, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58.

Amer Sports (NYSE:AS) last released its earnings results 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 analyst estimates of $947.59 million. Amer Sports had a negative return on equity of 0.63% and a negative net margin of 2.79%. The company’s revenue was up 16.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Amer Sports, Inc. will post 0.43 EPS for the current year.

Hedge Funds Weigh In On Amer Sports

Institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC bought a new position in Amer Sports during the third quarter worth about $73,000. Dnca Finance acquired a new stake in shares of Amer Sports during the second quarter worth about $81,000. Amalgamated Bank bought a new position in shares of Amer Sports during the 2nd quarter valued at about $83,000. Artemis Investment Management LLP acquired a new position in shares of Amer Sports in the 3rd quarter valued at approximately $293,000. Finally, Summit Securities Group LLC bought a new stake in Amer Sports during the 2nd quarter worth approximately $297,000. 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.