Amer Sports (NYSE:AS) Hits New 52-Week High – What’s Next?

Amer Sports, Inc. (NYSE:AS) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $18.34 and last traded at $18.26, with a volume of 1596370 shares. The stock had previously closed at $17.17.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AS. Evercore ISI reissued an “outperform” rating and set a $21.00 price objective on shares of Amer Sports in a research report on Wednesday, August 21st. UBS Group raised their price objective on Amer Sports from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Nomura Securities raised Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Amer Sports presently has a consensus rating of “Moderate Buy” and an average target price of $18.50.

Amer Sports Price Performance

The firm has a 50 day moving average of $13.73 and a two-hundred day moving average of $13.95. 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 for the quarter, topping the consensus estimate of ($0.06) by $0.11. The firm had revenue of $993.80 million during the quarter, compared to analysts’ expectations of $947.59 million. Amer Sports had a negative return on equity of 0.63% and a negative net margin of 2.79%. The business’s revenue was up 16.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Amer Sports, Inc. will post 0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AS. Dnca Finance acquired a new position in shares of Amer Sports in the second quarter valued at approximately $81,000. Amalgamated Bank acquired a new position in shares of Amer Sports in the second quarter valued at approximately $83,000. Artemis Investment Management LLP acquired a new position in shares of Amer Sports in the third quarter valued at approximately $293,000. Summit Securities Group LLC acquired a new position in shares of Amer Sports in the second quarter valued at approximately $297,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Amer Sports in the first quarter valued at approximately $390,000. 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.