Amer Sports’ (AS) Buy Rating Reiterated at BTIG Research

Amer Sports (NYSE:AS)‘s stock had its “buy” rating restated by equities research analysts at BTIG Research in a report issued on Friday, Benzinga reports. They currently have a $42.00 price objective on the stock. BTIG Research’s price objective points to a potential upside of 56.87% from the company’s previous close.

A number of other equities research analysts also recently weighed in on AS. UBS Group reaffirmed a “buy” rating on shares of Amer Sports in a research report on Thursday, September 17th. BMO Capital Markets started coverage on shares of Amer Sports in a research report on Tuesday, September 8th. They set an “outperform” rating and a $38.00 price objective for the company. Piper Sandler restated an “overweight” rating on shares of Amer Sports in a research report on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Amer Sports in a research report on Wednesday, August 19th. Finally, Morgan Stanley started coverage on shares of Amer Sports in a research report on Thursday, September 10th. They issued an “equal weight” rating and a $31.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $44.77.

Amer Sports Stock Performance

Shares of NYSE:AS traded down $0.13 during trading on Friday, reaching $26.77. 4,837,349 shares of the company’s stock traded hands, compared to its average volume of 5,046,397. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.76 and a quick ratio of 0.80. Amer Sports has a 12 month low of $26.10 and a 12 month high of $42.76. The company has a 50 day moving average of $31.83 and a 200-day moving average of $33.61. The stock has a market capitalization of $14.83 billion, a P/E ratio of 28.18, a price-to-earnings-growth ratio of 0.88 and a beta of 1.99.

Amer Sports (NYSE:AS) last announced its quarterly earnings data on Monday, August 17th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.11. Amer Sports had a net margin of 7.35% and a return on equity of 11.18%. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the firm earned $0.03 EPS. The company’s revenue for the quarter was up 32.1% compared to the same quarter last year. On average, equities analysts expect that Amer Sports will post 1.3 EPS for the current year.

Insider Buying and Selling

In other news, CFO Andrew E. Page sold 2,022 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $28.63, for a total value of $57,889.86. Following the completion of the sale, the chief financial officer directly owned 6,575 shares of the company’s stock, valued at approximately $188,242.25. This represents a 23.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 that occurred on Tuesday, September 15th. The stock was 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 of the company’s stock, valued at approximately $11,567,143. This represents a 21.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Institutional Trading of Amer Sports

Institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its stake in shares of Amer Sports by 84.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 761 shares of the company’s stock worth $25,000 after acquiring an additional 348 shares during the period. Rockefeller Capital Management L.P. lifted its stake in shares of Amer Sports by 1,030.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 814 shares of the company’s stock worth $30,000 after acquiring an additional 742 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Amer Sports by 5,600.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,824 shares of the company’s stock worth $68,000 after acquiring an additional 1,792 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Amer Sports in the 2nd quarter worth approximately $99,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Amer Sports by 135.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,090 shares of the company’s stock worth $102,000 after acquiring an additional 1,777 shares during the period. 40.25% of the stock is owned by institutional investors and hedge funds.

Amer Sports Company Profile

Amer Sports, Inc (NYSE: AS) is a global sporting goods company that designs, manufactures and markets equipment, apparel, footwear and accessories for outdoor, action sports and team sports. Its products are sold through wholesale partners, company-operated stores and digital channels across North America, Europe, Asia and other international markets.

The company’s brand portfolio includes Arc’teryx, which focuses on premium outdoor apparel and equipment; Salomon, known for mountain sports footwear and equipment; Wilson, which serves tennis, pickleball, baseball, basketball and other team sports; Atomic, which specializes in skiing products; and Peak Performance and Armada, which offer outdoor and winter sports apparel and equipment.

Amer Sports traces its origins to 1950 in Finland, where it was established as Amer-Yhtymä before developing into a diversified sporting goods group.