Amer Sports (NYSE:AS) Reaches New 52-Week High – Here’s Why

Amer Sports, Inc. (NYSE:AS)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $20.79 and last traded at $20.01, with a volume of 692086 shares changing hands. The stock had previously closed at $19.54.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AS. Robert W. Baird raised their price target on Amer Sports from $20.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday. Nomura Securities raised shares of Amer Sports to a “strong-buy” rating in a report on Tuesday, September 24th. Wells Fargo & Company boosted their price objective on shares of Amer Sports from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday. UBS Group increased their target price on shares of Amer Sports from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Evercore ISI restated an “outperform” rating and set a $26.00 price target (up from $25.00) on shares of Amer Sports in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amer Sports currently has a consensus rating of “Moderate Buy” and an average target price of $21.43.

Amer Sports Price Performance

The stock has a fifty day simple moving average of $17.57 and a 200-day simple moving average of $14.81. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 1.87.

Amer Sports (NYSE:AS) last posted its earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The company had revenue of $993.80 million during the quarter, compared to analysts’ expectations of $947.59 million. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, sell-side analysts predict that Amer Sports, Inc. will post 0.44 earnings per share for the current year.

Hedge Funds Weigh In On Amer Sports

Institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC bought a new stake in shares of Amer Sports during the third quarter valued at approximately $167,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Amer Sports in the 3rd quarter valued at $337,000. Y Intercept Hong Kong Ltd bought a new position in Amer Sports in the third quarter valued at about $467,000. XTX Topco Ltd bought a new position in shares of Amer Sports in the 3rd quarter valued at about $609,000. Finally, Weiss Asset Management LP acquired a new stake in shares of Amer Sports during the 3rd quarter worth approximately $1,761,000. 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.