Amer Sports, Inc. (NYSE:AS – Get Free Report) shares fell 3.8% during mid-day trading on Thursday . The company traded as low as $13.52 and last traded at $13.58. 141,240 shares were traded during trading, a decline of 91% from the average session volume of 1,536,896 shares. The stock had previously closed at $14.12.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the company. Sanford C. Bernstein reiterated a “market perform” rating and issued a $16.00 target price (down previously from $18.50) on shares of Amer Sports in a research note on Monday, April 8th. Morgan Stanley reduced their price target on shares of Amer Sports from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 23rd. Wells Fargo & Company lowered their price objective on shares of Amer Sports from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Finally, Bank of America upped their target price on shares of Amer Sports from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Amer Sports currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.79.
Amer Sports Trading Down 7.2 %
The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 0.97. The stock has a fifty day simple moving average of $14.71.
Amer Sports (NYSE:AS – Get Free Report) last issued its quarterly earnings data on Tuesday, May 21st. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.13 billion. The business’s quarterly revenue was up 12.6% on a year-over-year basis. As a group, equities analysts forecast that Amer Sports, Inc. will post 0.4 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the company. Seven Grand Managers LLC purchased a new stake in Amer Sports in the first quarter valued at about $1,630,000. SYSTM Wealth Solutions LLC acquired a new position in shares of Amer Sports during the first quarter valued at about $319,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Amer Sports in the 1st quarter valued at approximately $1,521,000. Capstone Investment Advisors LLC acquired a new stake in Amer Sports in the 1st quarter worth approximately $7,301,000. Finally, Sei Investments Co. acquired a new position in Amer Sports during the 1st quarter valued at approximately $968,000. Hedge funds and other institutional investors 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.