Amer Sports (NYSE:AS) Hits New 12-Month Low Following Analyst Downgrade

Amer Sports, Inc. (NYSE:AS)’s share price hit a new 52-week low during trading on Monday after Wells Fargo & Company lowered their price target on the stock from $45.00 to $40.00. Wells Fargo & Company currently has an overweight rating on the stock. Amer Sports traded as low as $26.10 and last traded at $27.30, with a volume of 11787888 shares changing hands. The stock had previously closed at $26.73.

A number of other research firms also recently commented on AS. Morgan Stanley started coverage on Amer Sports in a research report on Thursday, September 10th. They set an “equal weight” rating and a $31.00 target price on the stock. Barclays boosted their price target on Amer Sports from $49.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. BMO Capital Markets assumed coverage on Amer Sports in a research note on Tuesday, September 8th. They issued an “outperform” rating and a $38.00 target price for the company. Weiss Ratings lowered Amer Sports from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 19th. Finally, UBS Group reaffirmed a “buy” rating on shares of Amer Sports in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Amer Sports has an average rating of “Moderate Buy” and a consensus price target of $45.06.

Insider Activity

In related news, insider Wen-Chang Chen sold 117,461 shares of the firm’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 value of $3,124,462.60. Following the sale, the insider directly owned 434,855 shares in the company, valued at $11,567,143. This trade represents a 21.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew E. Page sold 2,022 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer directly owned 6,575 shares in the company, valued at $188,242.25. This represents a 23.52% decrease in their position. 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 Trading of Amer Sports

A number of hedge funds have recently made changes to their positions in the stock. Junto Capital Management LP grew its stake in Amer Sports by 583.8% in the second quarter. Junto Capital Management LP now owns 3,099,673 shares of the company’s stock valued at $104,893,000 after purchasing an additional 2,646,364 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Amer Sports by 25.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 62,581 shares of the company’s stock worth $2,118,000 after purchasing an additional 12,833 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Amer Sports by 45.9% during the 2nd quarter. Tidal Investments LLC now owns 12,369 shares of the company’s stock worth $419,000 after purchasing an additional 3,890 shares in the last quarter. C WorldWide Group Holding A S lifted its holdings in shares of Amer Sports by 41.0% during the 2nd quarter. C WorldWide Group Holding A S now owns 296,653 shares of the company’s stock valued at $10,039,000 after buying an additional 86,327 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Amer Sports in the 2nd quarter valued at approximately $99,000. 40.25% of the stock is owned by hedge funds and other institutional investors.

Amer Sports Trading Up 1.4%

The company has a 50 day moving average of $32.45 and a 200 day moving average of $33.85. The firm has a market cap of $15.01 billion, a P/E ratio of 28.74, a PEG ratio of 0.85 and a beta of 1.99. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.80 and a current ratio of 1.76.

Amer Sports (NYSE:AS) last posted its earnings results on Monday, August 17th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.11. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Amer Sports had a net margin of 7.35% and a return on equity of 11.18%. The company’s revenue was up 32.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 earnings per share. Analysts predict that Amer Sports, Inc. will post 1.3 EPS for the current fiscal year.

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.