Amer Sports, Inc. (NYSE:AS) Stock Has Consensus Target Price of $44.59

Shares of Amer Sports, Inc. (NYSE:AS) have been given a consensus recommendation of “Moderate Buy” by the sixteen research firms that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $44.59.

Several brokerages recently commented on AS. The Goldman Sachs Group set a $43.00 price target on Amer Sports in a research report on Friday, September 18th. Wells Fargo & Company dropped their price objective on Amer Sports from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, September 18th. Weiss Ratings downgraded Amer Sports from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 19th. Barclays raised their target price on shares of Amer Sports from $49.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Finally, Citigroup reissued a “buy” rating on shares of Amer Sports in a research report on Monday, September 21st.

Insider Activity

In related news, insider Wen-Chang Chen sold 117,461 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 434,855 shares in the company, valued at approximately $11,567,143. This trade represents a 21.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Andrew Page sold 2,022 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $28.63, for a total value of $57,889.86. Following the transaction, the chief financial officer directly owned 6,575 shares in the company, valued at approximately $188,242.25. This trade represents a 23.52% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AS. Assenagon Asset Management S.A. bought a new position in Amer Sports during the 3rd quarter worth $176,274,000. Temasek Holdings Private Ltd raised its stake in Amer Sports by 42.1% in the first quarter. Temasek Holdings Private Ltd now owns 3,665,157 shares of the company’s stock valued at $120,657,000 after purchasing an additional 1,086,616 shares in the last quarter. Junto Capital Management LP lifted its position in Amer Sports by 583.8% during the second quarter. Junto Capital Management LP now owns 3,099,673 shares of the company’s stock worth $104,893,000 after purchasing an additional 2,646,364 shares during the period. CI Investments Inc. bought a new stake in Amer Sports during the first quarter worth about $56,127,000. Finally, Squarepoint Ops LLC increased its holdings in Amer Sports by 89.0% in the 2nd quarter. Squarepoint Ops LLC now owns 1,106,439 shares of the company’s stock valued at $37,442,000 after buying an additional 520,888 shares during the period. Institutional investors and hedge funds own 40.25% of the company’s stock.

Amer Sports Stock Up 0.6%

AS stock opened at $29.41 on Wednesday. The business has a 50-day moving average of $28.57 and a 200-day moving average of $33.72. Amer Sports has a fifty-two week low of $26.10 and a fifty-two week high of $42.76. The stock has a market capitalization of $16.29 billion, a P/E ratio of 23.58, a P/E/G ratio of 0.93 and a beta of 2.04. 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 (NYSE:AS) last announced its earnings results on Monday, August 17th. The company reported $0.22 EPS for the quarter, topping 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 analysts’ expectations of $1.54 billion. During the same quarter in the prior year, the company posted $0.03 earnings per share. The firm’s revenue was up 32.1% on a year-over-year basis. On average, sell-side analysts anticipate that Amer Sports will post 1.30 earnings per share for the current fiscal year.

Amer Sports Company Profile

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.