Amer Sports, Inc.’s Lock-Up Period Will Expire on July 30th (NYSE:AS)

Amer Sports’ (NYSE:AS) lock-up period will expire on Tuesday, July 30th. Amer Sports had issued 105,000,000 shares in its public offering on February 1st. The total size of the offering was $1,365,000,000 based on an initial share price of $13.00. After the end of Amer Sports’ lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Morgan Stanley cut their price target on shares of Amer Sports from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Thursday, May 23rd. Wells Fargo & Company decreased their price target on shares of Amer Sports from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $16.00 price target (down from $18.50) on shares of Amer Sports in a research report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $18.79.

Amer Sports Stock Up 2.0 %

Amer Sports stock opened at $11.26 on Tuesday. Amer Sports has a 1-year low of $10.47 and a 1-year high of $18.23. The firm has a fifty day simple moving average of $13.31. 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 posted its quarterly earnings data on Tuesday, May 21st. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.13 billion. The business’s revenue was up 12.6% compared to the same quarter last year. Analysts anticipate that Amer Sports will post 0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amer Sports

Several large investors have recently modified their holdings of the business. Tocqueville Asset Management L.P. bought a new stake in Amer Sports during the 1st quarter worth approximately $813,000. Capstone Investment Advisors LLC bought a new stake in Amer Sports during the 1st quarter worth approximately $7,301,000. Sei Investments Co. bought a new stake in Amer Sports during the 1st quarter worth approximately $968,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Amer Sports during the 1st quarter worth approximately $5,705,000. Finally, Dnca Finance bought a new stake in Amer Sports during the 2nd quarter worth approximately $81,000. Hedge funds and other institutional investors own 40.25% of the company’s stock.

Amer Sports Company Profile

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.