Amer Sports (NYSE:AS) Trading Down 3.8%

Amer Sports, Inc. (NYSE:AS) was down 3.8% on Thursday . The company traded as low as $13.52 and last traded at $13.58. Approximately 141,240 shares traded hands during trading, a decline of 91% from the average daily volume of 1,536,896 shares. The stock had previously closed at $14.12.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AS shares. Morgan Stanley decreased their price objective on Amer Sports from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Thursday, May 23rd. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $16.00 price target (down from $18.50) on shares of Amer Sports in a research note on Monday, April 8th. Bank of America lifted their price target on Amer Sports from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Wells Fargo & Company decreased their price target on Amer Sports from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.79.

Amer Sports Stock Performance

The company’s 50-day moving average is $14.68. The company has a quick ratio of 0.97, a current ratio of 1.96 and a debt-to-equity ratio of 0.07.

Amer Sports (NYSE:AS) last issued its quarterly earnings results on Tuesday, May 21st. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.13 billion. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, research analysts predict that Amer Sports, Inc. will post 0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Amer Sports

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sandia Investment Management LP purchased a new stake in shares of Amer Sports in the first quarter worth $425,000. Hood River Capital Management LLC purchased a new stake in shares of Amer Sports during the first quarter valued at $47,778,000. Quadrature Capital Ltd purchased a new stake in shares of Amer Sports during the first quarter valued at $390,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Amer Sports in the first quarter valued at about $5,705,000. Finally, Tocqueville Asset Management L.P. bought a new position in Amer Sports in the first quarter valued at about $813,000. 40.25% of the stock is owned by hedge funds and other 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.