Amer Sports, Inc. (NYSE:AS – Get Free Report) shares were down 2.4% during trading on Tuesday . The company traded as low as $11.07 and last traded at $11.11. Approximately 65,806 shares traded hands during trading, a decline of 96% from the average daily volume of 1,616,765 shares. The stock had previously closed at $11.38.
Wall Street Analysts Forecast Growth
AS has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price objective on shares of Amer Sports from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Sanford C. Bernstein reissued a “market perform” rating and set a $16.00 price objective (down previously from $18.50) on shares of Amer Sports in a research report on Monday, April 8th. Finally, Morgan Stanley cut their price objective on shares of Amer Sports from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 23rd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.79.
Amer Sports Stock Down 1.6 %
The stock has a fifty day moving average of $14.13. The company has a current ratio of 1.96, a quick ratio of 0.97 and a debt-to-equity ratio of 0.07.
Amer Sports (NYSE:AS – Get Free Report) last announced its quarterly earnings results on Tuesday, May 21st. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.13 billion. Amer Sports’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, analysts predict that Amer Sports, Inc. will post 0.4 earnings per share for the current year.
Institutional Trading of Amer Sports
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Dnca Finance purchased a new position in Amer Sports in the 2nd quarter worth $81,000. SYSTM Wealth Solutions LLC purchased a new position in Amer Sports in the 1st quarter worth $319,000. Quadrature Capital Ltd purchased a new position in Amer Sports in the 1st quarter worth $390,000. Sandia Investment Management LP purchased a new position in Amer Sports in the 1st quarter worth $425,000. Finally, Tocqueville Asset Management L.P. purchased a new position in shares of Amer Sports in the first quarter valued at about $813,000. Hedge funds and other institutional investors own 40.25% of the company’s stock.
Amer Sports Company Profile
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.