Amer Sports (NYSE:AS) Shares Gap Down – Here’s What Happened

Amer Sports, Inc. (NYSE:AS) gapped down prior to trading on Tuesday . The stock had previously closed at $28.60, but opened at $26.40. Amer Sports shares last traded at $27.83, with a volume of 1,022,222 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Amer Sports from $20.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Hsbc Global Res cut shares of Amer Sports from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Sanford C. Bernstein initiated coverage on Amer Sports in a research note on Thursday, February 13th. They issued an “outperform” rating and a $38.00 price target for the company. Citigroup boosted their price objective on Amer Sports from $24.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group increased their target price on Amer Sports from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.64.

Amer Sports Stock Up 1.5 %

The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 1.62. The company’s fifty day moving average price is $30.00 and its 200-day moving average price is $22.30. The stock has a market cap of $15.86 billion and a P/E ratio of -206.21.

Amer Sports (NYSE:AS) last announced its earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.60 billion. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. Equities analysts forecast that Amer Sports, Inc. will post 0.46 EPS for the current year.

Institutional Trading of Amer Sports

Several institutional investors and hedge funds have recently made changes to their positions in AS. JPMorgan Chase & Co. purchased a new stake in shares of Amer Sports in the 3rd quarter worth $25,000. West Branch Capital LLC raised its holdings in shares of Amer Sports by 14,285.7% in the fourth quarter. West Branch Capital LLC now owns 1,007 shares of the company’s stock valued at $28,000 after acquiring an additional 1,000 shares in the last quarter. Kieckhefer Group LLC purchased a new stake in Amer Sports in the fourth quarter worth about $42,000. Signaturefd LLC bought a new position in Amer Sports during the 3rd quarter worth about $49,000. Finally, GAMMA Investing LLC increased its position in Amer Sports by 61.8% during the 4th quarter. GAMMA Investing LLC now owns 1,942 shares of the company’s stock valued at $54,000 after purchasing an additional 742 shares during the period. 40.25% of the stock is currently owned by institutional investors.

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.