Amer Sports (NYSE:AS) Shares Down 4.8%

Amer Sports, Inc. (NYSE:AS) shares were down 4.8% during mid-day trading on Monday . The stock traded as low as $11.37 and last traded at $11.42. Approximately 1,524,883 shares were traded during trading, a decline of 6% from the average daily volume of 1,628,680 shares. The stock had previously closed at $11.99.

Analyst Upgrades and Downgrades

Several analysts have commented on AS shares. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $16.00 target price (down from $18.50) on shares of Amer Sports in a research note on Monday, April 8th. Morgan Stanley dropped their target price on Amer Sports from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Thursday, May 23rd. Finally, Wells Fargo & Company lowered their price target on Amer Sports from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Amer Sports presently has a consensus rating of “Moderate Buy” and an average target price of $18.79.

Amer Sports Stock Down 1.5 %

The company has a 50-day simple moving average of $14.30. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.97 and a current ratio of 1.96.

Amer Sports (NYSE:AS) last released its quarterly earnings data on Tuesday, May 21st. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Amer Sports’s revenue was up 12.6% compared to the same quarter last year. Research analysts forecast that Amer Sports, Inc. will post 0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. SYSTM Wealth Solutions LLC purchased a new stake in Amer Sports during the 1st quarter worth approximately $319,000. Quadrature Capital Ltd bought a new stake in Amer Sports in the first quarter valued at about $390,000. Sandia Investment Management LP acquired a new stake in Amer Sports during the first quarter valued at approximately $425,000. Tocqueville Asset Management L.P. bought a new position in Amer Sports during the 1st quarter worth approximately $813,000. Finally, Sei Investments Co. acquired a new position in shares of Amer Sports in the 1st quarter worth approximately $968,000. 40.25% of the stock is currently owned by hedge funds and other institutional investors.

About Amer Sports

Amer Sports, Inc designs, manufactures, markets, distributes, and sells sports equipment, apparel, footwear, and accessories in Europe, the Middle East, Africa, the Americas, China, and the Asia Pacific. It operates through three segments: Technical Apparel, Outdoor Performance, and Ball & Racquet Sports.