Amer Sports (NYSE:AS) Shares Gap Down – What’s Next?

Shares of Amer Sports, Inc. (NYSE:AS) gapped down before the market opened on Tuesday . The stock had previously closed at $26.13, but opened at $24.37. Amer Sports shares last traded at $25.45, with a volume of 623,411 shares.

Analyst Upgrades and Downgrades

AS has been the subject of several research analyst reports. TD Cowen increased their target price on Amer Sports from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Evercore ISI reaffirmed an “outperform” rating and issued a $26.00 price target (up from $25.00) on shares of Amer Sports in a report on Wednesday, November 20th. JPMorgan Chase & Co. boosted their target price on shares of Amer Sports from $19.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Citigroup increased their price target on shares of Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, UBS Group boosted their price objective on Amer Sports from $24.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $21.43.

Amer Sports Price Performance

The firm’s 50-day moving average price is $19.42 and its 200 day moving average price is $15.44. The company has a current ratio of 1.62, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. FMR LLC increased its position in shares of Amer Sports by 71.2% during the 3rd quarter. FMR LLC now owns 7,533,007 shares of the company’s stock valued at $120,151,000 after purchasing an additional 3,133,312 shares during the period. Hood River Capital Management LLC grew its holdings in Amer Sports by 32.9% during the second quarter. Hood River Capital Management LLC now owns 3,896,784 shares of the company’s stock worth $48,983,000 after acquiring an additional 965,625 shares during the period. Point72 Hong Kong Ltd raised its position in Amer Sports by 557.7% in the second quarter. Point72 Hong Kong Ltd now owns 3,274,519 shares of the company’s stock worth $41,161,000 after acquiring an additional 2,776,619 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in Amer Sports by 308.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,106,202 shares of the company’s stock valued at $39,045,000 after acquiring an additional 2,345,420 shares during the last quarter. Finally, WCM Investment Management LLC boosted its position in shares of Amer Sports by 29.9% during the 3rd quarter. WCM Investment Management LLC now owns 1,330,092 shares of the company’s stock valued at $21,787,000 after purchasing an additional 306,001 shares in the last quarter. 40.25% of the stock is owned by institutional investors and hedge funds.

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.