Amer Sports (NYSE:AS) Hits New 52-Week High – Time to Buy?

Amer Sports, Inc. (NYSE:AS) hit a new 52-week high during trading on Friday . The company traded as high as $42.76 and last traded at $42.0990, with a volume of 1334946 shares changing hands. The stock had previously closed at $41.51.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AS shares. Piper Sandler reiterated an “overweight” rating on shares of Amer Sports in a report on Friday. Truist Financial set a $46.00 target price on shares of Amer Sports in a research note on Wednesday, January 14th. Wall Street Zen downgraded shares of Amer Sports from a “buy” rating to a “hold” rating in a report on Sunday, October 26th. Wells Fargo & Company upped their price target on shares of Amer Sports from $40.00 to $45.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Amer Sports in a research report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Amer Sports has a consensus rating of “Buy” and an average price target of $46.89.

Amer Sports Price Performance

The company has a quick ratio of 0.70, a current ratio of 1.51 and a debt-to-equity ratio of 0.24. The stock’s 50-day moving average price is $38.05 and its 200 day moving average price is $36.20. The firm has a market cap of $23.20 billion, a price-to-earnings ratio of 76.19, a price-to-earnings-growth ratio of 0.81 and a beta of 2.86.

Amer Sports (NYSE:AS) last issued its quarterly earnings results on Tuesday, November 18th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.08. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.73 billion. Amer Sports had a return on equity of 8.51% and a net margin of 5.10%.The company’s quarterly revenue was up 29.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.14 earnings per share. Equities research analysts predict that Amer Sports, Inc. will post 0.46 earnings per share for the current year.

Institutional Trading of Amer Sports

A number of institutional investors and hedge funds have recently modified their holdings of the company. Kestra Advisory Services LLC bought a new position in Amer Sports in the fourth quarter worth $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Amer Sports by 484.8% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 848 shares of the company’s stock worth $29,000 after acquiring an additional 703 shares during the period. SBI Securities Co. Ltd. boosted its position in shares of Amer Sports by 146.4% during the 2nd quarter. SBI Securities Co. Ltd. now owns 897 shares of the company’s stock valued at $35,000 after acquiring an additional 533 shares in the last quarter. Financial Consulate Inc. acquired a new stake in shares of Amer Sports during the 3rd quarter valued at about $40,000. Finally, PNC Financial Services Group Inc. increased its stake in Amer Sports by 241.6% in the third quarter. PNC Financial Services Group Inc. now owns 1,199 shares of the company’s stock valued at $42,000 after acquiring an additional 848 shares during the period. 40.25% of the stock is currently owned by institutional investors.

Amer Sports Company Profile

Amer Sports (NYSE:AS) is a Helsinki-based sporting goods group that designs, develops and markets performance-oriented equipment, apparel and footwear across multiple sports. The company focuses on product innovation, brand-driven marketing and global distribution to serve athletes and outdoor enthusiasts, offering goods for activities such as skiing, running, hiking, tennis, golf and diving.

Amer Sports’ portfolio comprises well-known sports and outdoor brands, including Salomon (outdoor footwear and winter sports), Atomic (alpine skis and ski equipment), Arc’teryx (technical outerwear and climbing gear), Wilson (racquet and ball sports equipment) and Suunto (precision instruments and sports watches).