Amer Sports (NYSE:AS) Trading Down 3.8%

Amer Sports, Inc. (NYSE:AS)’s share price dropped 3.8% during mid-day trading on Thursday . The company traded as low as $13.52 and last traded at $13.58. Approximately 141,240 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 1,536,896 shares. The stock had previously closed at $14.12.

Wall Street Analysts Forecast Growth

AS has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price target 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 target price (down from $18.50) on shares of Amer Sports in a research note on Monday, April 8th. Bank of America boosted their target price on shares of Amer Sports from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, Morgan Stanley reduced their target price on shares of Amer Sports from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Thursday, May 23rd. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $18.79.

Amer Sports Stock Down 4.0 %

The company has a current ratio of 1.96, a quick ratio of 0.97 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average of $14.68.

Amer Sports (NYSE:AS) last released its quarterly earnings results on Tuesday, May 21st. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.13 billion. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, analysts predict that Amer Sports, Inc. will post 0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. SYSTM Wealth Solutions LLC acquired a new position in Amer Sports in the 1st quarter valued at approximately $319,000. Quadrature Capital Ltd acquired a new position in Amer Sports in the 1st quarter valued at approximately $390,000. Sandia Investment Management LP bought a new stake in Amer Sports in the first quarter worth approximately $425,000. Tocqueville Asset Management L.P. bought a new stake in Amer Sports in the first quarter worth approximately $813,000. Finally, Sei Investments Co. bought a new stake in Amer Sports in the first quarter worth approximately $968,000. 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.