Amer Sports (NYSE:AS) Reaches New 52-Week High – Here’s Why

Amer Sports, Inc. (NYSE:AS)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $20.79 and last traded at $20.01, with a volume of 692086 shares trading hands. The stock had previously closed at $19.54.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AS. Evercore ISI reiterated an “outperform” rating and issued a $21.00 price objective on shares of Amer Sports in a report on Wednesday, August 21st. UBS Group increased their price target on shares of Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. TD Cowen boosted their price objective on shares of Amer Sports from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Nomura Securities raised shares of Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, The Goldman Sachs Group boosted their price target on shares of Amer Sports from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.57.

Amer Sports Trading Down 1.4 %

The company has a quick ratio of 0.81, a current ratio of 1.87 and a debt-to-equity ratio of 0.58. The firm has a 50 day simple moving average of $17.33 and a two-hundred day simple moving average of $14.73.

Amer Sports (NYSE:AS) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The firm had revenue of $993.80 million for the quarter, compared to analyst estimates of $947.59 million. Amer Sports’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, equities analysts expect that Amer Sports, Inc. will post 0.44 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Signaturefd LLC acquired a new stake in Amer Sports in the third quarter valued at about $49,000. Quarry LP acquired a new stake in shares of Amer Sports in the 3rd quarter valued at approximately $61,000. CWM LLC purchased a new stake in shares of Amer Sports in the third quarter valued at approximately $73,000. Dnca Finance acquired a new position in Amer Sports during the second quarter worth $81,000. Finally, Amalgamated Bank acquired a new position in Amer Sports during the second quarter worth $83,000. 40.25% of the stock is currently owned by institutional investors and hedge funds.

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.