Amer Sports (NYSE:AS) Stock Crosses Above 50 Day Moving Average – What’s Next?

Amer Sports, Inc. (NYSE:AS)’s stock price crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $28.63 and traded as high as $29.48. Amer Sports shares last traded at $29.28, with a volume of 4,508,111 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have issued reports on AS. Weiss Ratings cut shares of Amer Sports from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 19th. Citigroup reissued a “buy” rating on shares of Amer Sports in a report on Monday, September 21st. Barclays boosted their price target 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 Amer Sports in a research report on Tuesday, October 13th. They issued a “buy” rating and a $42.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Amer Sports in a research note on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Amer Sports currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.59.

Amer Sports Stock Performance

The company’s 50-day moving average is $28.63 and its two-hundred day moving average is $33.77. The company has a market capitalization of $16.22 billion, a P/E ratio of 30.82, a PEG ratio of 0.90 and a beta of 2.04. The company has a quick ratio of 0.80, a current ratio of 1.76 and a debt-to-equity ratio of 0.11.

Amer Sports (NYSE:AS) last announced its earnings results on Monday, August 17th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $1.54 billion. During the same period in the previous year, the business posted $0.03 earnings per share. Amer Sports’s revenue for the quarter was up 32.1% on a year-over-year basis. Equities analysts anticipate that Amer Sports, Inc. will post 1.30 earnings per share for the current fiscal year.

Insider Buying and Selling at Amer Sports

In related news, insider Wen-Chang Chen sold 117,461 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $26.60, for a total value of $3,124,462.60. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew E. Page sold 2,022 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $28.63, for a total transaction of $57,889.86. Following the completion of the transaction, the chief financial officer owned 6,575 shares of the company’s stock, valued at $188,242.25. This trade represents a 23.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Institutional Investors Weigh In On Amer Sports

Hedge funds have recently added to or reduced their stakes in the company. Choreo LLC boosted its holdings in shares of Amer Sports by 8.8% in the 3rd quarter. Choreo LLC now owns 8,027 shares of the company’s stock worth $219,000 after purchasing an additional 647 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new position in shares of Amer Sports during the 3rd quarter valued at about $193,000. Counterpoint Mutual Funds LLC bought a new position in shares of Amer Sports during the 3rd quarter valued at about $237,000. Vontobel Holding Ltd. increased its position in shares of Amer Sports by 346.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 48,958 shares of the company’s stock valued at $1,336,000 after purchasing an additional 38,004 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Amer Sports during the 3rd quarter valued at about $176,274,000. Institutional investors own 40.25% of the company’s stock.

About Amer Sports

Amer Sports, Inc is a global sporting and outdoor equipment company that develops, manufactures and markets apparel, footwear, equipment and accessories. Its portfolio includes internationally recognized brands such as Arc’teryx, Salomon, Wilson, Peak Performance, Atomic and ENVE.

The company organizes its business around outdoor and performance sports, including mountain sports, winter sports, trail running, hiking and other outdoor activities, as well as ball and racquet sports. Its products range from technical apparel and footwear to skis, snowboarding equipment, bicycles, tennis and padel racquets, team-sport equipment and related accessories.

Amer Sports traces its origins to Finland, where it was established in 1950, and serves consumers through wholesale and direct-to-consumer channels across North America, Europe, Asia and other international markets.