Analysts at Cantor Fitzgerald assumed coverage on shares of Amer Sports (NYSE:AS – Get Free Report) in a research note issued on Tuesday, Marketbeat reports. The firm set an “overweight” rating and a $46.00 price target on the stock. Cantor Fitzgerald‘s price objective would suggest a potential upside of 41.37% from the company’s previous close.
A number of other brokerages also recently weighed in on AS. Morgan Stanley began coverage on shares of Amer Sports in a report on Thursday, September 10th. They issued an “equal weight” rating and a $31.00 price target for the company. Barclays upped their price objective on shares of Amer Sports from $49.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Jefferies Financial Group initiated coverage on shares of Amer Sports in a research note on Tuesday, October 13th. They issued a “buy” rating and a $42.00 target price for the company. UBS Group set a $38.00 target price on Amer Sports in a research report on Monday, September 21st. Finally, BMO Capital Markets restated an “outperform” rating on shares of Amer Sports in a research note on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.67.
Check Out Our Latest Stock Analysis on AS
Amer Sports Stock Performance
AS opened at $32.54 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.76 and a debt-to-equity ratio of 0.11. The stock’s 50 day moving average price is $28.58 and its two-hundred day moving average price is $33.56. The firm has a market capitalization of $18.02 billion, a P/E ratio of 34.25, a price-to-earnings-growth ratio of 1.02 and a beta of 1.98. Amer Sports has a 12-month low of $26.10 and a 12-month high of $42.76.
Amer Sports (NYSE:AS – Get Free Report) last posted its quarterly earnings data on Monday, August 17th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.11. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Amer Sports had a return on equity of 11.18% and a net margin of 7.35%. Amer Sports’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 earnings per share. On average, equities analysts forecast that Amer Sports will post 1.30 earnings per share for the current year.
Insider Activity
In other news, CFO Andrew Page sold 2,022 shares of Amer Sports stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $28.63, for a total transaction of $57,889.86. Following the sale, the chief financial officer directly owned 6,575 shares in the company, valued at approximately $188,242.25. The trade was a 23.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Wen-Chang Chen sold 117,461 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $26.60, for a total transaction of $3,124,462.60. Following the completion of the sale, the insider directly owned 434,855 shares in the company, valued at approximately $11,567,143. The trade was a 21.27% decrease in their position. The SEC filing for this sale provides additional information.
Hedge Funds Weigh In On Amer Sports
Hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. bought a new stake in Amer Sports in the third quarter valued at $176,274,000. Temasek Holdings Private Ltd lifted its holdings in shares of Amer Sports by 42.1% during the first quarter. Temasek Holdings Private Ltd now owns 3,665,157 shares of the company’s stock valued at $120,657,000 after acquiring an additional 1,086,616 shares during the period. Junto Capital Management LP boosted its stake in shares of Amer Sports by 583.8% in the 2nd quarter. Junto Capital Management LP now owns 3,099,673 shares of the company’s stock valued at $104,893,000 after purchasing an additional 2,646,364 shares in the last quarter. CI Investments Inc. acquired a new stake in shares of Amer Sports in the 1st quarter valued at $56,127,000. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Amer Sports by 85.1% in the 3rd quarter. Pictet Asset Management Holding SA now owns 1,672,178 shares of the company’s stock worth $45,634,000 after purchasing an additional 768,668 shares during the last quarter. 40.25% of the stock is owned by institutional investors and hedge funds.
About Amer Sports
Amer Sports is a global sporting goods company whose portfolio includes Arc’teryx, Salomon, Wilson, Atomic, Peak Performance and other brands. Its products span technical apparel and footwear, outdoor and winter sports equipment, and gear for sports such as tennis, baseball and basketball.
The company serves consumers and athletes in markets around the world through its brands’ retail, wholesale and direct-to-consumer channels. Its operations are organized around technical apparel, outdoor performance, and ball and racquet sports.
Amer Sports traces its origins to 1950, when it was established in Finland as Amer-Tupakka, a tobacco company that later diversified into sporting goods.
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