Amer Sports (NYSE:AS) Sets New 1-Year Low at $12.65

Shares of Amer Sports, Inc. (NYSE:AS) reached a new 52-week low on Friday . The company traded as low as $12.65 and last traded at $12.96, with a volume of 700075 shares changing hands. The stock had previously closed at $13.10.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AS shares. Bank of America increased their target price on Amer Sports from $18.00 to $19.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Wells Fargo & Company lowered their target price on Amer Sports from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. 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 research note on Thursday, May 23rd. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $16.00 price objective (down previously from $18.50) on shares of Amer Sports in a research note on Monday, April 8th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.79.

Amer Sports Stock Performance

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

Amer Sports (NYSE:AS) last released its quarterly earnings results on Tuesday, May 21st. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. The firm 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% on a year-over-year basis. As a group, analysts forecast that Amer Sports, Inc. will post 0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Amer Sports

Several institutional investors have recently modified their holdings of AS. Hood River Capital Management LLC bought a new stake in shares of Amer Sports in the 1st quarter valued at approximately $47,778,000. Capstone Investment Advisors LLC bought a new stake in shares of Amer Sports during the 1st quarter worth approximately $7,301,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Amer Sports during the 1st quarter worth approximately $5,705,000. Value Star Asset Management Hong Kong Ltd bought a new stake in Amer Sports during the 1st quarter valued at $2,061,000. Finally, Seven Grand Managers LLC bought a new stake in Amer Sports during the 1st quarter valued at $1,630,000. 40.25% of the stock is 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.