Amer Sports (NYSE:AS) Hits New 1-Year High – Still a Buy?

Amer Sports, Inc. (NYSE:AS) reached a new 52-week high on Friday . The stock 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 analysts have recently issued reports on AS shares. Wells Fargo & Company increased their price target on shares of Amer Sports from $40.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Deutsche Bank Aktiengesellschaft set a $49.00 target price on shares of Amer Sports in a research note on Thursday, January 8th. Citigroup reiterated a “buy” rating on shares of Amer Sports in a report on Thursday, October 30th. Zacks Research downgraded shares of Amer Sports from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Finally, Barclays started coverage on Amer Sports in a research report on Tuesday, December 9th. They set an “overweight” rating and a $49.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $46.89.

Amer Sports Price Performance

The stock’s fifty day moving average price is $38.12 and its two-hundred day moving average price is $36.21. The firm has a market capitalization of $23.22 billion, a price-to-earnings ratio of 76.23, a price-to-earnings-growth ratio of 0.82 and a beta of 2.86. The company has a current ratio of 1.51, a quick ratio of 0.70 and a debt-to-equity ratio of 0.24.

Institutional Trading of Amer Sports

A number of institutional investors have recently bought and sold shares of the business. Aspex Management HK Ltd acquired a new position in shares of Amer Sports during the 3rd quarter worth about $206,244,000. Artisan Partners Limited Partnership lifted its stake in Amer Sports by 1,306.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 5,214,439 shares of the company’s stock worth $194,759,000 after purchasing an additional 4,843,742 shares during the last quarter. Scopus Asset Management L.P. acquired a new position in Amer Sports in the second quarter valued at approximately $108,562,000. Viking Global Investors LP increased its stake in Amer Sports by 63.5% in the third quarter. Viking Global Investors LP now owns 6,343,481 shares of the company’s stock valued at $220,436,000 after purchasing an additional 2,462,832 shares during the last quarter. Finally, WT Asset Management Ltd increased its stake in Amer Sports by 221.5% in the third quarter. WT Asset Management Ltd now owns 3,499,062 shares of the company’s stock valued at $121,592,000 after purchasing an additional 2,410,861 shares during the last quarter. 40.25% of the stock is owned by hedge funds and other institutional investors.

About Amer Sports

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).